|
|
|
|
|
|
|
|
|
|
|
|
|
|
Previous: HIBERNIA CORP, 424B3, 1994-06-28 |
Next: NAVISTAR INTERNATIONAL TRANSPORTATION CORP, 10-K/A, 1994-06-28 |
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------------------------------
FORM 11-K
(X) ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 (FEE REQUIRED)
For the fiscal year ended December 31, 1993
or
( ) TRANSITION REPORT PURSUANT TO SECTION 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED)
For the transition period from ___________________
Commission file number 1-2360
IBM TAX DEFERRED SAVINGS PLAN
-----------------------------
(Full title of the plan)
Manager of Benefits - U.S. Operations
IBM
Route 9
Town of Mount Pleasant
North Tarrytown, New York 10591
-------------------------------------
(Address of the plan)
INTERNATIONAL BUSINESS MACHINES CORPORATION
-------------------------------------------
(Name of issuer of the securities held pursuant to the plan)
Old Orchard Road
Armonk, New York 10504
----------------------
(Address of issuer's principal executive office)
<PAGE>
REQUIRED INFORMATION
Page
----
Consent of Independent Accountants 3
Report of Independent Accountants 4
Financial Statements:
_____________________
Statements of Net Assets Available for Plan Benefits
as of December 31, 1993 and December 31, 1992 5
Statement of Changes in Net Assets Available for Plan
Benefits for the year ended December 31, 1993 7
Notes to Financial Statements 8
Supplementary Schedules:
________________________
Schedule I - Assets Held for Investment at December 31, 1993 20
Schedule II - Transactions Involving an Amount in Excess
of 5 Percent of the Current Value of Plan Assets 77
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the trustees (or other persons who administer the
plan) have duly caused this annual report to be signed by
the undersigned thereunto duly authorized.
IBM TAX DEFERRED SAVINGS PLAN
Dated June 27, 1994 By: R. F. Wallman
---------------------------
(R. F. Wallman, Controller)
2
<PAGE>
CONSENT OF INDEPENDENT ACCOUNTANTS
We hereby consent to the incorporation by reference in
the Registration Statement on Form S-8 (33-33458) of IBM
Corporation Tax Deferred Savings Plan of our report dated
June 17, 1994 appearing on page 4 of this Annual Report on
Form 11-K for the year ended December 31, 1993.
PRICE WATERHOUSE
1177 Avenue of the Americas
New York, NY 10036
June 17, 1994
3
<PAGE>
REPORT OF INDEPENDENT ACCOUNTANTS
To the Members of the
IBM Retirement Plans Committee and the
Participants of the International Business Machines Corporation
Tax Deferred Savings Plan
In our opinion, the financial statements as referenced in
the Required Information Section on page 2, present fairly,
in all material respects, the net assets available for plan
benefits of the IBM Tax Deferred Savings Plan at December
31, 1993 and 1992, and the changes in net assets available
for plan benefits for the year ended December 31, 1993, in
conformity with generally accepted accounting principles.
These financial statements are the responsibility of the
Company's management; our responsibility is to express an
opinion on these financial statements based on our audits.
We conducted our audits of these statements in accordance
with generally accepted auditing standards which require
that we plan and perform the audit to obtain reasonable as-
surance about whether the financial statements are free of
material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures
in the financial statements, assessing the accounting prin-
ciples used and significant estimates made by management,
and evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for
the opinion expressed above.
Our audit was made for the purpose of forming an opinion on
the basic financial statements taken as a whole. The addi-
tional information included in supplementary schedules I and
II is presented for purposes of additional analysis and is
not a required part of the basic financial statements but is
additional information required by ERISA. Such information
has been subjected to the auditing procedures applied in the
audit of the basic financial statements and, in our opinion,
is fairly stated in all material respects in relation to the
basic financial statements taken as a whole.
PRICE WATERHOUSE
1177 Avenue of the Americas
New York, NY 10036
June 17, 1994
4
<PAGE>
<TABLE><CAPTION>
INTERNATIONAL BUSINESS MACHINES CORPORATION
TAX DEFERRED SAVINGS PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS
AS OF DECEMBER 31, 1993
(Dollars in thousands)
U.S.
Money Large Co. Small Co. IBM Fixed Govt. Int'l. Balanced
Market Index Stock Stock Loan Income Sec. Stock Asset
Fund Fund Fund Fund Fund Fund Fund Fund Fund Total
-------- --------- --------- ------- -------- ---------- ------- ------- -------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Assets:
Investments at fair value:
Interest in equity-oriented
General Employee Benefit
Trust pooled fund
(cost: $1,199,710) 1,874,979 1,874,979
Interest in short-term investment-
oriented General Employee Benefit
Trust pooled funds
(cost: $409,307) 283,754 4,361 26,479 7,058 24,595 2,251 57,502 3,307 409,307
Investment contracts
(cost: $3,092,850) 3,092,850 3,092,850
U.S. Government Treasury Securities
(cost: $77,208) 358 65,996 10,226 76,580
Common Stock (cost: $1,101,237) 880,486 153,753 171,879 1,206,118
------- --------- ------- ------- --------- ------- ------- ------- ---------
Total investments 283,754 1,879,340 907,323 160,811 3,117,445 68,247 239,607 3,307 6,659,834
Income and sales proceeds receivable 796 3 2,598 10 13 18,445 999 725 9 23,598
Contributions receivable (payable) 14 (65) (9) 37 78 (9) 48 10 104
Loans receivable 250,457 250,457
Transfers receivable (payable) (499) (997) 1,563 69 1,468 (2,579) 76 566 333
Balanced Asset Fund Allocation (64,449) (16,141) (48,521) (16,171) (16,218) 161,500
------- --------- ------- ------- ------- --------- ------- ------- -------- ---------
Total assets 284,065 1,813,832 895,334 160,927 251,938 3,084,868 53,142 224,728 165,159 6,933,993
Liabilities:
Expenses payable 13 1 19 1,007 (8) (71) (9) 952
Investments purchased 42 5,727 11,245 17,014
------- --------- ------- ------- ------- --------- ------- ------- ------- ---------
Total liabilities 13 1 61 5,727 1,007 (8) 11,174 (9) 17,966
------- --------- ------- ------- ------- --------- ------- ------- ------- ---------
Net assets available for plan
benefits 284,052 1,813,831 895,273 155,200 251,938 3,083,861 53,150 213,554 165,168 6,916,027
======= ========= ======= ======= ======= ========= ======= ======= ======= =========
</TABLE>
The accompanying notes are an integral part of this financial statement.
5
<PAGE>
<TABLE><CAPTION>
INTERNATIONAL BUSINESS MACHINES CORPORATION
TAX DEFERRED SAVINGS PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS
AS OF DECEMBER 31, 1992
(Dollars in thousands)
U.S.
Money Large Co. Small Co. IBM Fixed Govt.
Market Index Equity Equity Stock Stock Loan Income Sec.
Fund Fund I Fund II Fund Fund Fund Fund Fund Fund Total
-------- --------- -------- ---------- -------- -------- -------- ---------- ------ ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Assets:
Investments at fair value:
Shares of equity-oriented
registered investment companies:
Equity I Fund (cost: $116,114) 127,447
Equity II Fund (cost: $94,739) 114,081
Total all funds (cost: $210,853) 241,528
Interest in equity-oriented
General Employee Benefit
Trust pooled fund
(cost: $981,550) 1,561,070 1,561,070
Interest in short-term investment-
oriented General Employee Benefit
Trust pooled funds
(cost: $363,116) 322,134 15 372 134 24,948 3,697 8,406 3,410 363,116
Investment contracts
(cost: $2,934,944) 2,934,944 2,934,944
U.S. Government Treasury Securities
(cost: $53,864) 54,063 54,063
Common Stock (cost: $571,147) 493,485 81,211 574,696
-------- --------- ------- ------- ------- ------ --------- ------ ---------
Total investments 322,134 1,561,085 127,819 114,215 518,433 84,908 2,943,350 57,473 5,729,417
Income and sales proceeds receivable 929 2 3 2 819 6 19,292 514 21,567
Contributions receivable (payable) (67) (63) 401 98 (191) (20) 158
Loans receivable 248,012 248,012
Transfers receivable (payable) (1,173) (1,419) (110) (59) 4,127 1,428 3,725 (5,970) (549)
------- --------- ------- ------- ------- ------ ------- --------- ------ ---------
Total assets 321,823 1,559,605 127,712 114,158 523,780 86,440 251,737 2,956,481 57,418 5,999,154
Liabilities:
Expenses payable 11 12 1 1 3 24 324 1 377
Investments purchased 12,617 3,526 16,143
------- --------- ------- ------- ------- ------ ------- --------- ------ ---------
Total liabilities 11 12 1 1 12,620 3,550 324 1 16,520
------- --------- ------- ------- ------- ------ ------- --------- ------ ---------
Net assets available for plan
benefits 321,812 1,559,593 127,711 114,157 511,160 82,890 251,737 2,956,157 57,417 5,982,634
======= ========= ======= ======= ======= ====== ======= ========= ====== =========
</TABLE>
The accompanying notes are an integral part of this financial statement.
6
<PAGE>
<TABLE><CAPTION>
INTERNATIONAL BUSINESS MACHINES CORPORATION
TAX DEFERRED SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS
AVAILABLE FOR PLAN BENEFITS
FOR THE THE YEAR ENDED DECEMBER 31, 1993
(Dollars in thousands)
Small
Money Lge Co. Co. IBM
Market Index Equity Equity Stock Stock
Fund Fund I Fund II Fund Fund Fund
------- -------- ------- -------- ------- -------
<S> <C> <C> <C> <C> <C> <C>
Additions:
Participant contributions 32,458 135,693 110,387 9,908
Employer contributions 7,309 28,118 21,970 2,028
Transfer of Balanced Asset
Fund Contributions 3,415 853
Participant loan repayments 8,786 42,532 29,472 3,597
Participant directed transfer
of investments, net (70,211) 29,587 (137,482) (121,702) 197,536 43,265
------- -------- -------- -------- ------- -------
Total contributions
and transfers (21,658) 239,345 (137,482) (121,702) 360,218 58,798
------- -------- --------- -------- ------- -------
Income from investments:
Interest 9,722 109 68 72 1,112 36
Dividends 1,576 2,050 13,539 3,142
------- -------- -------- -------- ------- -------
Total income 9,722 109 1,644 2,122 14,651 3,178
------- -------- -------- -------- ------- -------
Unrealized and realized
gain (loss) on investments,
net 170,357 10,195 7,252 66,664 15,795
------- -------- -------- -------- ------- -------
Total additions (11,936) 409,811 (125,643) (112,328) 441,533 77,771
------- -------- -------- -------- ------- -------
Reductions:
Distributions to participants 14,425 45,119 1,974 1,746 18,208 1,627
Transfer to/(from) other
benefits plans, net 3 9 14 12 (82) 115
Balanced Asset Fund Alloc. 64,449 16,141
Loans to participants 10,575 43,661 22,142 3,627
Administrative expenses 821 2,335 80 71 1,011 92
------- -------- ------- -------- ------- -------
Total reductions 25,824 155,573 2,068 1,829 57,420 5,461
------- -------- ------- -------- ------- -------
Increase (decrease) in net
assets during the year (37,760) 254,238 (127,711) (114,157) 384,113 72,310
Net assets available for plan
benefits:
Beginning of year 321,812 1,559,593 127,711 114,157 511,160 82,890
------- --------- -------- -------- ------- -------
End of year 284,052 1,813,831 0 0 895,273 155,200
======= ========= ========= ======== ======= =======
<CAPTION>
U.S.
Int'l Fixed Govt Bal.
Stock Loan Income Sec. Asset
Fund Fund Fund Fund Fund Total
------- -------- --------- ------ ------- ---------
<S> <C> <C> <C> <C> <C> <C>
Additions:
Participant contributions 7,521 173,728 7,954 7,688 485,337
Employer contributions 1,435 36,705 1,596 1,520 100,681
Transfer of Balanced Asset
Fund Contributions 854 2,561 854 (8,537)
Participant loan repayments 1,959 (156,082) 66,350 2,204 1,182
Participant directed transfer
of investments, net 204,228 (147,466) (114) 2,359
------- -------- --------- ------ ------- ---------
Total contributions
and transfers 215,997 (156,082) 131,878 12,494 4,212 586,018
------- -------- --------- ------ ------- ---------
Income from investments:
Interest 876 19,081 222,509 3,576 55 257,216
Dividends 842 21,149
------- -------- --------- ------ ------- ---------
Total income 1,718 19,081 222,509 3,576 55 278,365
------- -------- --------- ------ ------- ---------
Unrealized and realized
gain (loss) on investments,
net 15,756 (491) 285,528
------- -------- --------- ------ ------- ---------
Total additions 233,471 (137,001) 354,387 15,579 4,267 1,149,911
------ -------- --------- ------ ------- ---------
Reductions:
Distributions to participants 2,138 19,882 99,177 2,007 424 206,727
Transfer to/(from) other
benefits plans, net (82) (443) (31) (13) (498)
Balanced Asset Fund Alloc. 16,218 48,521 16,171 (161,500)
Loans to participants 1,361 (157,084) 74,079 1,615 24
Administrative expenses 282 5,349 84 164 10,289
------- -------- ---------- ------ ------- ---------
Total reductions 19,917 (137,202) 226,683 19,846 (160,901) 216,518
------- -------- --------- ------ ------- ---------
Increase (decrease) in net
assets during the year 213,554 201 127,704 (4,267) 165,168 933,393
Net assets available for plan
benefits:
Beginning of year 0 251,737 2,956,157 57,417 0 5,982,634
------- -------- --------- ------ ------- ---------
End of year 213,554 251,938 3,083,861 53,150 165,168 6,916,027
======= ======== ========= ====== ======= =========
</TABLE>
The accompanying notes are an integral part of this financial statement.
7
<PAGE>
INTERNATIONAL BUSINESS MACHINES CORPORATION
TAX DEFERRED SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
NOTE 1 - DESCRIPTION OF THE PLAN:
General:
The International Business Machines Corporation ("IBM") Tax
Deferred Savings Plan (the "Plan") offers all qualifying ac-
tive regular or part-time employees of IBM and certain of
its domestic subsidiaries an opportunity to defer up to nine
percent of their compensation, which IBM will contribute on
their behalf, to any of eight investment funds. The invest-
ment objectives of these funds are described in Note 3. The
Plan was established by resolution of IBM's Retirement Plans
Committee effective July 1, 1983 and is held in
trust for the benefit of its participants.
During 1993, the Plan was modified to include the addition
of the International Stock Fund and the Balanced Asset Fund,
while the Equity I and Equity II Funds were closed. Plan
participants who had not instructed the Plan's Trustee to
transfer the remaining Equity I and Equity II balances to
another plan fund by July 1, 1993, had these balances auto-
matically transferred on their behalf into the Large Company
Index Fund. The Plan is intended to qualify as a profit-
sharing plan under the Internal Revenue Code of 1954, as
amended, and is subject to the provisions of the Employee
Retirement Income Security Act of 1974 ("ERISA"), as
amended.
Administration:
The Plan is administered by IBM's Retirement Plans Committee
which has appointed officials of IBM as
plan administrators to assist in administering the
Plan. The IBM Retirement Plans Committee has also appointed
Bankers Trust Company as Trustee to safeguard the assets of
the various funds and outside investment managers to direct
investments in the various funds. In addition, through 1993
IBM acted as the investment manager for the Small Company
Stock Fund, International Stock Fund, and U.S. Government
Securities Fund, and negotiated contracts with the respec-
tive financial institutions for Fixed Income Fund invest-
ments. Effective March 1, 1994, management of the U.S.
Government Securities Fund was transferred to Bankers Trust
Company; effective May 13, 1994, management of the Small
Company Stock Fund was transferred to State Street Global
Advisors, the institutional investment management affiliate
of State Street Bank and Trust Company, and management of
the International Stock Fund was transferred to Bankers
Trust Company. (Refer to Note 8 - Subsequent Events).
Contributions and participants' equity:
Contributions are made to the Plan by IBM on behalf of each
participant based upon the participant's elected compen-
sation deferral. Participants may elect to defer up to nine
percent of their eligible compensation.
8
<PAGE>
IBM's matching deferral is thirty percent of each partic-
ipant's deferral up to a maximum of five percent of a par-
ticipant's eligible compensation. Participants may choose
to have their contributions invested entirely in any one of,
or in any combination of, the following funds in 5 percent
multiples: Money Market Fund, Large Company Index Fund,
Fixed Income Fund, Small Company Stock Fund, IBM Stock Fund,
U.S. Government Securities Fund, International Stock Fund,
and Balanced Asset Fund. These funds and their investment
objectives are more fully described in Note 3. Contrib-
utions are temporarily invested in short-term investments
and are then allocated to the funds selected by the partic-
ipant. Participants may elect to change their investment
selection for future contributions during any payroll pe-
riod. Also, the participant may transfer part or all of ex-
isting account balances among funds in the Plan during any
weekly valuation period, except that money in the Fixed In-
come Fund may not be transferred directly into the Money
Market Fund or U.S. Government Securities Fund, and if
transferred to an equity fund may not subsequently be trans-
ferred to the Money Market Fund or U.S. Government Securi-
ties Fund for three months. The Trustee maintains an
account in the name of each participant to which the Trustee
records each participant's contributions and share of the
net earnings, losses and expenses, if any, of the various
investment funds. The earnings on the assets held in each
of the funds and all proceeds from the sale of such assets
are held and reinvested in the respective funds.
The interest of each participant in each of the funds is re-
presented by units/shares credited to the participant's ac-
count.
The initial unit value of each fund (excluding the IBM Stock
Fund), on the first valuation date, was equivalent to $1.00.
On each succeeding valuation date, the unit value of each
fund is determined by dividing the value of the fund on that
date by the number of outstanding units in the fund. In de-
termining the unit value, new contributions that are to be
allocated as of the valuation date are excluded from the
calculation. The number of additional units to be credited
to a participant's account for each fund, due to new con-
tributions, is equal to the amount of the participant's new
contributions to the fund divided by the unit value for the
applicable fund as determined on the valuation date.
For the IBM Stock Fund, the initial valuation price per
share was $106.125 (March 30, 1990 closing price). On each
succeeding valuation date, the valuation price per share for
the IBM Stock Fund is the closing price of IBM stock as re-
ported on the New York Stock Exchange Composite tape for
that date. This valuation price, applied to the partic-
ipant's whole and fractional shares, and cash awaiting in-
vestment in IBM stock comprise the participant's equity in
the Fund.
9
<PAGE>
At December 31, 1993 and 1992 the number of participants in
the Plan approximated 191,000 and 192,000, respectively.
The number of individuals participating in each of the
Plan's funds at December 31, 1993, were approximately:
Money Market 53,000
Large Company Index 123,000
Small Company Stock 92,000
IBM Stock 21,000
Fixed Income 146,000
U.S. Government Securities 14,000
International Stock 26,000
Balanced Asset 13,000
Contributions made to the Plan and interest, dividends or
other earnings of the Plan are not includable in gross in-
come of the participant until withdrawal, at which time all
earnings and contributions withdrawn are generally taxed as
ordinary income to the participant. Additionally, with-
drawals by the participant before attaining age 59 1/2 are
generally subject to a penalty tax of 10%.
Consistent with provisions established by the IRS, a 1993
annual limit of $8,994 was set on employee deferrals under
salary deferral plans, such as the IBM Tax Deferred Savings
Plan.
Vesting:
Participants in the Plan are at all times fully vested in
their account balance, including deferred compensation,
matching contributions and earnings thereon.
Distribution:
A participant who has attained age 59 1/2 may request a cash
distribution of all or part of the value of the partic-
ipant's account. The minimum amount of any such distrib-
ution shall be the lesser of the participant's account
balance or $500. In the event that the participant retires
under the IBM Retirement Plan or becomes eligible for bene-
fits under the IBM Medical Disability Income Plan, the par-
ticipant may elect to receive the balance of the
participant's account in a specified number of annual cash
installments over a period not to exceed ten years or to de-
fer payment, whether lump-sum or installment, until age 70
1/2.
10
<PAGE>
Upon the death of a participant, the value of the partic-
ipant's account will be distributed to the participant's
beneficiary in a lump-sum cash payment. If the participant
is married, the beneficiary will be the participant's
spouse. If the participant is single, the beneficiary will
be as designated under the IBM Group Life Insurance Plan
(unless the participant has assigned ownership of such in-
surance). In the absence of an effective designation under
the Plan at the time of death, the proceeds will normally be
paid in the following order: the participant's spouse, the
participant's children in equal shares, or to surviving par-
ents equally. If no spouse, child, or parent is living,
payments will be made to the executors or administrators of
the participant's estate.
Participants may borrow, subject to additional limitations
relative to prior loans, up to one-half of the value of the
participant's account balance, but not to exceed $50,000.
The loan shall bear a fixed rate of interest, set quarterly,
for the term of the loan, determined by the plan administra-
tor to be 1.25 percent above the prime rate. Repayment of a
loan shall be made through monthly payroll deductions over a
term of one to four years. Employees on an approved leave of
absence may elect to make monthly loan payments directly to
the Trustee. Participants may continue to contribute to the
Plan while having an outstanding loan, provided that the
loan is not in default.
All outstanding loans shall be due and payable as of the
last date of employment in the case of retirement, sepa-
ration or death. In the event payment is not made within
forty-five days of notification by the Trustee, the partic-
ipant shall be deemed to have received a distribution from
the Plan in an amount equal to the remaining outstanding
principal and accrued interest on the loan.
The number of outstanding loans at December 31, 1993 and
1992 was 50,688 and 50,827, respectively. Interest rates on
outstanding loans at December 31, 1993 ranged from 7.25% to
11.25%.
Termination of service:
The value of the participant's account will be distributed
to the participant in a lump-sum cash payment as soon as
practical following the termination of the participant's em-
ployment with IBM for any reason other than retirement, med-
ical disability or death. If the account balance is greater
than $3,500 at the time of separation, the participant may
elect to defer distribution of the account until age 70 1/2.
11
<PAGE>
Termination of the Plan:
IBM reserves the right to terminate this Plan at any time by
action of its Retirement Plans Committee. In such event,
each participant or beneficiary receiving or entitled to re-
ceive payments under the Plan will receive the balance of
his or her account at such time and in such manner as the
Retirement Plans Committee shall determine at its dis-
cretion.
In the event of a full or partial termination of the Plan,
or upon complete discontinuance of contributions under the
Plan, the rights of all affected participants in the value
of their accounts will be nonforfeitable.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
Valuation of investments:
The fair value of the net assets of the Plan is based on the
estimated fair values of the underlying assets and liabil-
ities.
Investments in registered investment companies and pooled
funds are valued at the net asset values per share as quoted
by such companies or funds as of the valuation date. In-
vestments in insurance and group annuity contracts and fixed
rate time deposits are valued at the cost of amounts con-
tributed plus interest paid and reinvested. United States
Government Treasury Securities and common stocks, including
IBM stock, are valued at quoted market prices. Interest ac-
crued on investments is recorded separately as interest
receivable until paid and reinvested.
Security transactions and related investment income:
Security transactions are recorded on a trade-date basis.
Realized gains and losses on sales of securities are based
on average cost at the time of sale. Dividend income is re-
corded on the ex-dividend date and interest income is re-
corded on the accrual basis.
Administrative expenses and investment management fees:
Effective August 1, 1992, all initial and ongoing adminis-
trative costs of the Plan are paid by the Plan. This in-
cludes: (a) brokerage fees and commissions which are
included in the cost of investments when purchased and in
determining net proceeds on sales of investments (b) invest-
ment management fees which are paid from the respective
fund's assets. Such fees consist of fixed annual charges
with the exception of the Large Company Stock and Money Mar-
ket Funds which are based on a percentage of net asset
value. (c) Operational expenses required for administration
of the Plan consisting of trustee, recordkeeping, partic-
ipant reports and communications, and Service Center ex-
penses. These expenses are charged against the fund's
assets on a pro rata basis throughout the year. Prior to
August 1, 1992, IBM paid all initial and ongoing administra-
tive costs of the plans, except for brokerage fees, commis-
sions, and investment management fees.
12
<PAGE>
NOTE 3 - DESCRIPTION OF INVESTMENT FUNDS:
The eight investment funds to which employees have contrib-
uted monies are described below:
Money Market Fund - Preservation of principal, liquidity and
a variable rate of income based on current market interest
rates:
Investments in the Money Market Fund are managed by the
Bankers Trust Company.
Investments are made in a diversified portfolio of high-
quality money market instruments with average maturity dates
not exceeding 91 days from the date of purchase. Twenty
percent of the value of the fund may be invested in instru-
ments with maturities not to exceed 182 days. At all times
not less than 20 percent of the remaining assets of the fund
must be composed of cash, demand obligations and assets that
mature on the next business day.
The fund in which monies are invested is the Bankers Trust
Company's Discretionary Short-term Investment Fund.
Large Company Index Fund (formerly "Index Fund") - Long term
growth of capital with a market rate of return from a diver-
sified group of large- and medium-company stocks:
This fund invests in a broad range of common stocks through
Bankers Trust Company's Equity Index Fund which is designed
to produce investment results approximating the price and
yield performance of the Standard & Poor's Composite Index
of 500 Stocks (S & P 500). The S & P 500 Index is composed
of 500 selected common stocks, most of which are listed on
the New York Stock Exchange. Standard and Poor's, a finan-
cial services corporation, chooses the stocks to be included
in the index solely on a statistical basis, by which it
seeks to represent a cross-section of industry sectors and
companies within each sector.
Investments in the Large Company Index Fund are managed by
the Bankers Trust Company.
Equity I and Equity II Funds - Growth and Income:
Effective July 1, 1993, the Equity I and Equity II Funds
were closed; new contributions to these funds had been sus-
pended since January 1, 1986. Plan participants who had not
instructed the Plan's Trustee to transfer their balances out
of the Equity I and Equity II Funds by July 1, 1993, had any
remaining balance in these funds automatically transferred
on their behalf to the Large Company Stock Fund.
13
<PAGE>
Fixed Income Fund - Preservation of principal with a rela-
tively stable and predictable rate of interest:
Investments consist of interest-bearing instruments, includ-
ing corporate and U.S. government securities, bank time de-
posits, and contracts with insurance companies, banks, and
other financial institutions.
The investments in this fund may have fixed rates of inter-
est for fixed periods of time, or may have rates of interest
that vary during the contract period based upon the contract
issuer's investment experience for the assets or pooled as-
sets supporting the contract or upon another formula appli-
cable under the contract.
Investment contracts with insurance companies and other fi-
nancial institutions require the repayment of principal plus
interest as determined under the contract. IBM will take
steps to place investments with highly rated institutions,
but cannot guarantee the return of either principal or in-
terest.
Small Company Stock Fund - Long term growth of capital from
a diversified group of medium- and small-company common
stocks:
This fund invests in a broad range of common stocks to
produce investment results approximating the price and yield
performance of medium- and small-company common stocks gen-
erally not represented in the Standard & Poor's 500 Index.
Investors can use this fund as a complement to the Large
Company Index Fund to attain extensive coverage of the total
U.S. equity market. Dividends paid on common stocks in the
portfolio are reinvested in the fund.
The Small Company Stock Fund may not have as close a corre-
lation to its market segment rate of return as the Large
Company Index Fund. This results from higher transaction
costs associated with trading in medium- and small-company
stocks and from the fund not investing in every company.
IBM Stock Fund - Direct investment in IBM common stock, with
dividends being reinvested in additional shares of IBM com-
mon stock:
The IBM Stock Fund permits the participant to have contrib-
utions invested in IBM $1.25 par value common stock, or to
have existing account balances transferred into this fund so
as to be invested in such IBM common stock. The return on
the participant's investment will be determined by the mar-
ket price of IBM common stock and by the amount of any divi-
dends paid thereon.
14
<PAGE>
Assets invested in the IBM Stock Fund will be expressed in
whole and fractional shares. In addition, interest will be
earned on money that is in the participant's account await-
ing investment in IBM common stock.
An investment in a single stock is generally more risky than
investing in a broadly diversified group of stocks.
IBM corporate officers are not eligible to invest in the IBM
Stock Fund.
International Stock Fund - Long-term capital growth with a
market rate of return from a diversified group of equity
holdings in the major stock markets of Europe and
Asia/Pacific.
These Equity market investments are based on the Morgan
Stanley Capital International Europe, Australia, and Far
East (EAFE) Index, with a modified country weighting that
limits investments in securities of any one country to ap-
proximately 25% of the fund. In order to reduce long-term
volatility and operating costs, the fund may also invest in
stock index futures and other contracts structured to obtain
similar results. Dividend income is reinvested in the fund.
The International Stock Fund, which was added to the Plan on
April 2, 1993, is designed to broaden and supplement plan
investment options by offering a way to participate in for-
eign equity markets, while maintaining diversification
within and across different assets classes.
Like U.S. equities, foreign equities are subject to price
fluctuations. In addition, they are impacted by other fac-
tors such as foreign currency exchange fluctuations that af-
fect the dollar value of the fund.
The International Stock Fund may not have as close a corre-
lation to the modified EAFE Index as the Large Company Index
Fund does to the S&P 500 Index. This results from the
higher transaction costs of trading in foreign markets, and
not investing in every company in the EAFE Index.
U. S. Government Securities Fund - A market rate of return
with effectively no credit risk by investing primarily in
short-term U.S. Treasury notes and bonds:
The U.S. Government Securities Fund, which was added effec-
tive January 1, 1992, invests primarily in a diversified
portfolio of U.S. Treasury notes and bonds that have an av-
erage maturity between one and three years. It is designed
to approximate the composite investment results of U.S.
Treasury securities having similar remaining maturities.
The fund may also invest in U.S. government agency securi-
ties which are guaranteed as to principal and interest by
the U.S. Government.
U.S. government securities, while secure as to payment of
principal at maturity, can fluctuate in market value in the
interim because of changes in prevailing interest rates.
Therefore, any withdrawals, distributions or transfers from
the U.S. Government Securities Fund will be subject to some
market value variability.
15
<PAGE>
Balanced Asset Fund - Long-term returns consistent with
preservation of capital through a combination of equity and
fixed income investment options available in the TDSP.
A single investment (payroll contribution or fund transfer)
in this fund will automatically be allocated among the fol-
lowing five TDSP investment options, while maintaining the
target allocations as shown: Large Company Index Fund - 40%,
Small Company Stock Fund - 10%, International Stock Fund -
10%, Fixed Income Fund - 30%, and U.S. Government Securities
Fund - 10%. This fund will be rebalanced each month to
maintain the target allocations, as the value of the under-
lying investment funds fluctuates.
The Balanced Asset Fund, which was added to the Plan on
April 2, 1993, is designed to blend the long-term perform-
ance of equity and fixed income investments. Although the
fund's value may fluctuate, its diversification among equity
and fixed income investments can potentially improve stabil-
ity of returns over the long-term.
NOTE 4 - PLAN TRANSFERS:
Effective September 29, 1989 an agreement was finalized es-
tablishing ROLM Systems as part of Siemens and ROLM Company
as what was a joint venture between IBM and Siemens. As a
result of this transaction, there were net transfers of cash
and securities for $1,003,997 and $(6,193,000) during 1993
and 1992, respectively, between the Plan and similar savings
plans established for these companies.
On March 27, 1991, IBM completed a transaction with Clayton
& Dubilier, Inc., to create a new information products com-
pany, Lexmark International, Inc. (Lexmark). As a result of
this transaction, there were net transfers of cash and secu-
rities for $(291,541) and $(4,376,000) during 1993 and 1992,
respectively, between the Plan and a similar savings plan
established by Lexmark.
These transfers represent the participants' account balances
attributable to employees transferred to(from) IBM.
NOTE 5 - INCOME TAXES:
The plan administrator has received prior favorable determi-
nation letters from the Internal Revenue Service (IRS) as to
the tax-qualified status of the Plan. Management has filed
the current year's amendments with the IRS and believes that
the Plan, as amended, maintains its tax-qualified status.
Accordingly, a provision for federal income taxes has not
been made.
16
<PAGE>
NOTE 6 - TDSP INVESTMENT VALUATIONS:
The following schedules summarize the fair value of investments, and the
related net unrealized and realized gain/loss on investments by type
of investment (dollars in thousands):
Fair value determined by
----------------------------------
December 31, 1993: Quoted
market Estimates
prices of trustee Total
---------- ---------- ----------
Interest in equity-oriented General $1,874,979 $1,874,979
Employee Benefit Trust pooled fund
Interest in short-term investment- 409,307 409,307
oriented General Employee Benefit
Trust discretionary pooled fund
Investment contracts $3,092,850 3,092,850
U.S. Government Treasury Securities 76,580 76,580
Common stock 1,206,118 1,206,118
---------- ---------- ----------
Total $3,566,984 $3,092,850 $6,659,834
========== ========== ==========
December 31, 1992:
Shares in equity-oriented
registered investment companies $ 241,528 $ 241,528
Interest in equity-oriented General
Employee Benefit Trust pooled fund 1,561,070 1,561,070
Interest in short-term investment-
oriented General Employee Benefit
Trust discretionary pooled fund 363,116 363,116
Investment contracts $2,934,944 2,934,944
U.S. Government Treasury Securities 54,063 54,063
Common stock 574,696 574,696
---------- ---------- ----------
Total $2,794,473 $2,934,944 $5,729,417
========== ========== ==========
17
<PAGE>
NOTE 6 - TDSP INVESTMENT VALUATIONS (continued):
Net Unrealized and Realized Gain (Loss) on investments (dollars in
thousands):
For the year ended
December 31, 1993
__________________
Investments at fair value
determined by quoted market
price:
Shares in equity-oriented
registered investment companies $ 17,447
Interest in equity-oriented General 170,357
Employee Benefit Trust pooled Fund
U.S. Government Treasury Securities (491)
Common stock 95,282
---------
Total $282,595
=========
NOTE 7 - SUBSEQUENT EVENT
Effective March 1, 1994, Bankers Trust Company assumed man-
agement of the U.S. Government Securities Fund from IBM. On
May 13, 1994, management of the Small Company Stock Fund was
assumed from IBM by State Street Global Advisors, the insti-
tutional investment management affiliate of State Street
Bank and Trust Company, while management of the Interna-
tional Stock Fund was assumed by Bankers Trust Company.
Each of these Funds will continue to be managed maintaining
their existing investment goals and objectives. As a re-
sult, there is no anticipated change in the investment char-
acteristics of the U.S. Government Securities Fund, the
Small Company Stock Fund, or the International Stock Fund.
18
<PAGE>
<TABLE><CAPTION>
NOTE 9 - SCHEDULE OF UNIT/SHARE VALUES AND PARTICIPANT UNITS/SHARES (FUND UNITS IN THOUSANDS EXCEPT SHARES IN IBM STOCK FUND):
The following is a schedule of the TDSP individual fund unit/share values and participant units/shares as calculated by the
Trustee based on each weekly valuation date:
Money Market Large Company Equity Equity Small Company Fixed Income U.S. Gov't. IBM Stock
Fund Index Fund I Fund II Fund Stock Fund Fund Sec. Fund Fund
------------- ------------- ------------- ------------ -------------- --------------- ------------ ---------------
Price
Unit Unit Unit Unit Unit Unit Unit Per
value Units value Units value Units value Units Value Units Value Units Value Units Shares Shares
----- ------- ----- ------- ----- ------ ----- ------ ----- ------- ----- --------- ----- ------ ------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Month in 1993:
January $2.31 135,456 $5.61 277,336 $5.00 26,012 $4.60 24,993 $1.51 393,777 $1.97 1,491,449 $1.08 49,402 $50.25 1,839
February 2.32 133,377 5.67 278,350 5.10 25,851 4.63 24,887 1.49 421,694 1.99 1,491,091 1.08 48,358 53.75 1,912
March 2.32 133,313 5.79 281,377 5.24 25,277 4.77 24,218 1.51 437,389 2.00 1,498,941 1.09 49,998 50.50 1,925
April 2.33 129,347 5.65 281,688 5.21 21,654 4.70 20,432 1.48 452,188 2.01 1,482,876 1.09 49,334 48.88 2,008
May 2.33 128,209 5.84 281,977 5.32 20,159 4.91 19,001 1.54 459,823 2.02 1,485,816 1.09 50,199 53.25 2,068
June 2.34 127,738 5.78 312,364 5.28 96 4.84 367 1.51 473,150 2.03 1,488,961 1.10 51,163 48.75 2,107
July 2.35 125,962 5.84 309,107 1.55 482,401 2.05 1,489,304 1.10 51,151 43.88 2,179
August 2.35 123,654 6.00 303,805 1.60 495,471 2.06 1,486,404 1.11 50,142 44.00 2,233
September 2.36 123,087 5.96 301,184 1.64 504,237 2.07 1,486,198 1.11 50,250 42.00 2,297
October 2.36 121,062 6.11 297,579 1.64 524,841 2.08 1,469,395 1.12 48,827 45.75 2,335
November 2.37 119,654 6.06 296,086 1.59 536,582 2.09 1,463,222 1.12 47,845 55.13 2,513
December 2.38 118,900 6.16 294,933 1.65 540,407 2.11 1,456,350 1.12 46,991 57.00 2,840
Month in 1992:
January $2.23 150,900 $5.14 268,692 $4.42 28,490 $4.34 26,985 $1.38 203,704 $1.83 1,459,214 $1.00 6,690 $89.88 782,782
February 2.24 148,751 5.07 270,801 4.42 28,181 4.25 26,847 1.35 238,707 1.84 1,438,730 1.00 32,549 86.63 816,787
March 2.25 149,054 5.00 272,279 4.36 27,959 4.16 26,707 1.32 254,804 1.85 1,444,218 1.01 32,761 82.25 835,139
April 2.26 147,759 5.21 272,614 4.60 27,713 4.33 26,538 1.33 268,070 1.87 1,452,151 1.02 32,867 93.75 905,462
May 2.26 147,933 5.19 275,421 4.60 27,607 4.26 26,463 1.33 277,315 1.88 1,460,254 1.02 34,014 89.00 928,242
June 2.27 147,983 5.18 277,398 4.60 27,493 4.19 26,372 1.30 283,659 1.89 1,472,295 1.04 35,949 96.88 938,940
July 2.28 144,836 5.30 278,774 4.67 27,317 4.25 26,225 1.33 283,757 1.90 1,484,412 1.05 43,918 88.25 1,008,437
August 2.28 143,523 5.29 279,528 4.59 27,187 4.23 26,065 1.33 287,443 1.92 1,490,876 1.06 48,886 86.63 1,067,211
September 2.29 143,695 5.27 279,950 4.59 27,056 4.22 25,921 1.33 288,603 1.93 1,503,242 1.07 54,067 80.13 1,125,794
October 2.30 142,144 5.32 277,441 4.61 26,732 4.31 25,674 1.38 291,127 1.94 1,512,098 1.06 60,801 65.88 1,409,711
November 2.30 140,094 5.48 278,784 4.73 26,444 4.44 25,433 1.45 320,087 1.95 1,508,553 1.06 57,031 67.25 1,520,852
December 2.31 139,334 5.50 280,096 4.83 26,222 4.49 25,233 1.47 344,368 1.97 1,503,029 1.07 53,812 50.38 1,612,139
<CAPTION>
Balanced Int'l Stock
Asset Fund Fund
------------- ---------------
Price
Unit Per
Value Units Shares Shares
----- ------- ------ -------
<S> <C> <C> <C> <C>
Month in 1993:
January
February
March
April $1.01 57,624 $1.01 31,057
May 1.01 78,486 1.03 47,580
June 1.02 94,484 1.00 60,577
July 1.02 111,710 1.03 71,723
August 1.04 130,957 1.09 97,604
September 1.05 138,078 1.08 112,332
October 1.06 145,370 1.11 156,931
November 1.06 150,386 1.08 177,015
December 1.07 154,182 1.15 188,919
</TABLE>
19
<PAGE>
SCHEDULE I
INTERNATIONAL BUSINESS MACHINES CORPORATION
TAX DEFERRED SAVINGS PLAN
ASSETS HELD FOR INVESTMENT AT DECEMBER 31, 1993
<TABLE><CAPTION>
Total Fair
Shares/Units or Cost Value
Maturity Value (In Thousands) (In Thousands)
Interest in Bankers Trust _______________ ______________ ______________
Company pooled funds:
<S> <C> <C> <C>
Discretionary Accounts 409,308,085 $ 409,307 $ 409,307
__________ __________
Equity Index Fund 1,896,504 $1,199,710 $1,874,979
__________ __________
Investment Contracts:
Bankers Trust Company
#90-023 9.05% 7/1/1997 79,521,549 $79,522 $79,522
Bankers Trust Company
#90-060 8.50% 10/1/1997 76,593,281 76,593 76,593
Bankers Trust Company
#91-028 8.20% 4/1/1996 54,840,373 54,840 54,840
Brundage Story & Rose
5.78% 1/1/1999 76,887,083 76,887 76,887
CIGNA
FM 22011 8.66% 7/31/1995 61,207,947 61,208 61,208
CIGNA
#012-9202 8.85% 6/30/1994 82,147,490 82,148 82,148
Citibank
MMIG-392506 #4A 8.79% 7/1/1994 43,124,331 43,124 43,124
Citibank
MMIG-392506 #4B 8.99% 4/1/1995 43,138,536 43,139 43,139
Citibank
#0306G 8.33% 1/1/1995 43,446,110 43,446 43,446
Citibank
#0307G 8.27% 4/1/1996 63,317,063 63,317 63,317
Citibank
#178360 6.75% 1/1/1999 175,572,084 175,572 175,572
Citibank
#178361 4.93% 10/1/1996 76,528,279 76,528 76,528
20
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Investment Contracts (Continued): Maturity Value (In Thousands) (In Thousands)
_______________ ______________ ______________
<S> <C> <C> <C>
Citibank
#178362 5.17% 1/1/1999 30,237,090 $ 30,237 $ 30,237
Citizens Fidelity
9.10% 10/1/1995 101,545,754 101,546 101,546
CNA Insurance
GP 12546 9.12% 3/31/1995 40,778,401 40,778 40,778
Confederation Life Insurance Co.
#43002 9.32% 6/30/1995 15,578,489 15,578 15,578
Confederation Life Insurance Co.
#43005 8.75% 1/2/1996 21,580,716 21,581 21,581
John Hancock Life Insurance Co.
GAC #5627 9.03% 7/1/1997 50,015,648 50,016 50,016
J. P. Morgan, Delaware
#081220 8.03% 7/1/1995 35,118,826 35,119 35,199
J. P. Morgan, Delaware
#681220 8.36% 7/1/1996 34,129,526 34,130 34,130
J. P. Morgan, Delaware
#881220 8.19% 12/31/1995 34,107,072 34,107 34,107
Loomis Sayles
5.79% 9/1/1998 51,144,093 51,144 51,144
Metropolitan Life Insurance Co.
GAC #70834 8.08% 12/31/1998 9,516,673 9,517 9,517
Metropolitan Life Insurance Co.
GAC #11862-6 9.03% 1/1/1996 116,673,615 116,674 116,674
Metropolitan Life Insurance Co.
GAC #11863-7 9.03% 1/1/1996 15,323,515 15,324 15,324
New York Life Insurance Company
GA-06554-001 7.56% 7/1/1997 315,077,163 315,077 315,077
New York Life Insurance Company
GA-06554-002 5.35% 1/1/1991 95,793,705 95,794 95,794
Pimco
#915 4.95% 10/1/1996 60,430,109 60,430 60,430
Pimco
#916 5.95% 1/1/1999 40,338,757 40,339 40,339
21
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Investment Contracts (Continued): Maturity Value (In Thousands) (In Thousands)
_______________ ______________ ______________
<S> <C> <C> <C>
Pittsburgh National Bank
9.05% 10/1/1994 81,209,973 $ 81,210 $ 81,210
Principal Financial Group
#73702-2 8.85% 3/31/1994 6,449,890 6,449 6,449
Principal Financial Group
#73702-3 8.95% 9/30/1994 4,879,053 4,879 4,879
Provident National Assurance Co.
#020-03459/02A 7.85% 1/2/1994 17,426,927 17,427 17,427
Provident National Assurance Co.
#020-03459/04A 9.23% 9/30/1994 1,190,624 1,191 1,191
Provident National Assurance Co.
#020-03459/04B 9.23% 9/30/1994 2,057,312 2,057 2,057
Provident National Assurance Co.
#020-03459-05A 9.13% 3/31/1996 23,616,960 23,617 23,617
Provident National Bank
8.80% 4/1/1995 79,412,055 79,412 79,412
Prudential Asset Management Co.
GA-7406 7.03% 3/31/1998 154,304,464 154,304 154,304
Putnam Management Group
6.20% 4/1/1998 268,046,941 268,047 268,047
Union Bank of Switzerland
#2071 5.17% 10/1/1998 50,382,438 50,382 50,382
Sanford C. Bernstein
5.92% 7/1/1998 51,295,530 51,296 51,296
Security Pacific
9.12% 1/1/1994 32,481,201 32,481 32,481
Union Bank of Switzerland
#2001 7.81% 1/1/1997 45,587,355 45,587 45,587
Union Bank of Switzerland
#2005 6.67% 10/1/1995 121,237,243 121,237 121,237
Union Bank of Switzerland
#2010 7.15% 4/1/1998 209,559,452 209,559 209,559
__________ __________
$3,092,850 $3,092,850
__________ __________
22
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
U.S. Government Treasury Securities: Maturity Value (In Thousands) (In Thousands)
_______________ ______________ ______________
U.S. Government Securities Fund:
Treasury Notes
7.875% 7/31/1996 7,775,000 $ 8,506 $ 8,416
Treasury Notes
6.50% 11/30/1996 4,250,000 4,481 4,473
Treasury Notes
3.875% 3/31/1995 1,030,000 1,029 1,030
Treasury Notes
8.875% 2/15/1996 3,000,000 3,325 3,274
Treasury Notes
5.875% 5/15/1995 10,557,000 10,865 10,821
Treasury Notes
4.625% 8/15/1995 13,356,000 13,545 13,467
Treasury Notes
5.125% 11/15/1995 13,245,000 13,558 13,467
Treasury Notes
9.375% 4/15/1996 9,974,000 11,299 11,048
_______ _______
$66,608 $65,996
Small Company Stock Fund:
Treasury Notes
3.04% 1/13/1994 360,000 $358 $358
International Stock Fund:
Treasury Notes
3.04% 1/13/199 10,300,000 $10,242 $10,226
_______ _______
$77,208 $76,580
_______ _______
</TABLE>
23
<PAGE>
<TABLE><CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
3 COM CORP COM 23,600 $ 266 $1,109
50-OFF STORES INC. 15,400 218 106
A L LABS INC 5,000 136 70
A T & E CORP COM 6,700 33 0
AAR CORP COM 20,600 285 299
ABEX INC 12,600 134 38
ACC CORP 11,100 158 210
ACCLAIM ENTMT INC 31,200 158 663
ACKERLEY COMMUNICATIONS INC 1,600 7 9
ACME CLEVELAND CORP COM 2,761 13 26
ACME METALS INC 11,700 174 211
ACTAVA GROUP INC 4,000 57 30
ACUSON COM 22,300 543 270
ACXIOM CORP 36,600 278 787
ADAPTEC INC COM 26,000 183 1,034
ADC TELECOMMUNICATIONS INC COM 21,500 325 766
ADDINGTON RES INC COM 5,800 107 110
ADOBE SYS INC COM 35,400 848 788
ADVANCED MEDICAL INC 23,100 311 33
ADVANCED POLYMER SYS INC COM 3,900 26 20
ADVANCED PROMOTION TECHNOLOGIES INC 17,700 119 168
ADVANCED TECHNOLOGY LABORATORIES INC 5,820 146 97
ADVANCED TISSUE SCIENCES 15,600 146 129
ADVANTA CORP COM 21,550 493 717
ADVO INC F/K/A ADVO SYS INC 17,975 376 324
AES CORP 22,741 530 796
AFLAC CORP 92,875 2,183 2,647
AGCO GROUP 10,500 245 358
AGENCY RENT A CAR INC COM 4,200 34 55
AIR & WATER TECHNOLOGIES CORP 14,800 303 222
AIR EXPRESS INTL CORP 6,600 129 131
AIRBORNE FGHT CORP COM 17,800 316 625
AIRGAS INC COM 20,200 373 439
AIRTRAN CORP 16,200 170 154
ALASKA AIR GROUP INC COM 4,100 92 58
ALBANK FINL CORP 3,900 75 77
ALBANY INTL CORP NEW CL A 12,900 231 247
ALC COMMUNICATIONS CORP 21,900 488 635
ALDUS CORP COM 23,300 573 635
ALEX BROWN INC COM 13,800 273 343
ALEXANDER & BALDWIN INC COM 41,100 1,072 1,099
ALEXANDERS INC COM 2,900 171 176
ALKERMES INC 2,000 15 14
24
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
ALLEGHANY CORP DEL COM 2,970 $ 341 $ 426
ALLEGHENY LUDLUM CORP COM 36,200 634 864
ALLEGHENY PWR SYS INC COM 107,200 2,418 2,841
ALLEN GROUP INC COM 11,400 223 207
ALLIANCE PHARMACEUTICAL CORP 10,600 172 85
ALLIANT TECHSYSTEMS INC 9,300 215 276
ALLIED PRODS CORP DEL COM 8,500 112 106
ALLIED RESEARCH CORP 6,600 101 55
ALLMERICA PPTY & CAS COS INC 18,700 895 1,220
ALLSTATE CORP 62,900 1,826 1,856
ALLTEL CORP COM 167,200 3,569 4,932
ALLTRISTA CORP 8,799 144 150
ALLWASTE INC COM 11,500 65 52
ALPHA 1 BIOMEDICALS INC COM 2,300 26 33
ALPHA BETA TECHNOLOGY INC 17,200 430 555
ALPINE GROUP INC 4,300 41 37
ALTEON INC 17,800 164 151
ALTERA CORP 18,700 326 612
AMAX GOLD INC COM 52,600 497 362
AMBAC INC 31,800 1,270 1,336
AMC ENTMT INC COM 1,700 14 23
AMCAST INDL CORP COM 4,200 86 89
AMERICA ONLINE INC DEL 2,000 71 117
AMERICAN ANNUITY GROUP INC 25,400 255 254
AMERICAN BANKERS INS GROUP INC COM 16,200 457 425
AMERICAN BIOGENETIC SCIENCES INC 5,900 24 29
AMERICAN BLDG MAINTENANCE INDS COM 3,000 58 54
AMERICAN BUSINESS INFORMATION INC 16,600 229 241
AMERICAN BUSINESS PRODS INC 5,300 127 133
AMERICAN COLLOID CO COM 35,400 116 810
AMERICAN ECOLOGY CORP COM 5,000 54 43
AMERICAN FILTRONA CORP COM 13,100 299 337
AMERICAN FREIGHTWAYS CORP 10,500 174 207
AMERICAN HEALTH PPTYS INC 14,700 395 368
AMERICAN HEALTHCARE MGMT INC 10,100 54 92
AMERICAN HEALTHCORP INC 16,800 253 361
AMERICAN INTL PETE CORP 3,050 39 6
AMERICAN MEDICAL HOLDING INC 44,100 506 860
AMERICAN MGMT SYS INC COM 10,400 203 205
AMERICAN NATL INS CO COM 7,900 295 405
AMERICAN PACIFIC CORP 13,000 217 169
AMERICAN PRESIDENT COS LTD COM 10,200 409 584
AMERICAN PWR CONVERSION 55,600 470 1,321
25
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
AMERICAN RE CORP 44,900 $1,532 $1,274
AMERICAN SOFTWARE INC 43,500 479 261
AMERICAN SUPERCONDUCTOR CORP 800 19 29
AMERICAN SVGS FLA FSB 13,800 252 264
AMERICAN TRAVELERS CORP 5,100 61 61
AMERICAN WASTE SVCS INC 15,300 36 48
AMERICAN WTR WKS INC COM 21,300 500 639
AMERICREDIT CORP 21,700 109 168
AMERIFED FINL CORP 7,000 220 224
AMERON INC COM 5,800 216 209
AMETEK INC COM 39,600 586 505
AMPAL AMERICAN ISRAEL CORP 14,500 161 167
AMPCO-PITTSBURG CORP COM 5,500 42 39
AMRE INC COM 18,400 169 62
AMSCO INTL INC 30,300 618 367
AMSOUTH BANCORPORATION 36,400 936 1,138
AMTECH CORP 10,000 241 240
AMYLIN PHARMACEUTICALS INC 29,500 317 384
ANACOMP INC COM 13,300 39 53
ANADARKO PETE CORP COM 50,200 1,462 2,278
ANALOG DEVICES INC COM 42,100 488 1,037
ANALOGIC CORP COM PAR $.05 2,400 33 38
ANALYSTS INTL CORP COM 26,850 269 483
ANCHOR BANCORP INC 28,000 261 347
ANDROS INC COM 1,400 22 22
ANGELICA CORP COM 6,800 175 192
ANN TAYLOR STORES CORP 12,700 303 314
ANTHEM ELECTRS INC COM 7,800 251 225
AON CORP COM 52,000 2,313 2,516
APACHE CORP COM 58,900 1,125 1,377
APOGEE ENTERPRISES INC COM 15,500 181 248
APPLE SOUTH INC COM 3,750 57 79
APPLEBEES INTL INC 7,800 166 261
APPLIED BIOSCIENCE INTL INC 74,600 680 382
APPLIED IMMUNE SCIENCES INC 14,195 266 142
APPLIED MAGNETICS CORP COM 3,100 31 17
26
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
APPLIED MATLS INC COM (DEL) 67,000 $ 879 $ 2,596
APPLIED MICROBIOLOGY INC. 6,500 33 37
APPLIED PWR INC CL A COM 17,000 274 276
APTAR GROUP INC 21,000 328 436
AQUARION CO 9,200 247 262
ARABIAN SHIELD DEV CO COM 19,100 76 43
ARBOR DRUGS INC COM 6,400 111 131
ARCH COMMUNICATIONS GROUP INC 7,000 96 96
ARCO CHEM CO COM 9,400 368 407
ARCTCO INC 13,800 297 331
ARGONAUT GROUP INC COM 18,200 505 555
ARGOSY GAMING CORP 17,400 486 324
ARI NETWORK SVCS INC 1,100 5 4
ARMOR ALL PRODS CORP 8,800 113 174
ARNOLD INDS INC COM 8,600 152 181
ARROW ELECTRS INC COM 15,700 403 655
ARVIN INDS INC COM 10,700 361 342
ASHLAND COAL INC 2,200 59 66
ASK GROUP INC 9,000 107 118
ASPECT TELECOMMUNICATIONS CORP 7,200 216 304
ASSET INVS CORP COM 38,300 420 72
ASSOCIATED BANC CORP COM 4,180 139 144
ASSOCIATED COMMUNICATIONS CORP DEL 19,000 318 542
ASSOCIATES NATURAL GAS CO 13,900 339 440
AST RESEARCH COM 29,000 486 660
ASTEC INDS INC COM 6,700 86 103
ATARI CORP COM 12,700 106 73
ATHENA NEROSCIENCES INC COM 7,700 65 64
ATKINSON GUY F CO CALIF COM 4,900 45 40
ATLANTA GAS LT CO COM 22,800 788 886
ATLANTIC ENERGY INC 48,800 1,027 1,061
ATLANTIC SOUTHEAST AIRLS INC 22,500 281 771
ATLANTIC TELE-NETWORK INC 5,000 59 71
ATMEL CORP 17,500 165 606
ATMOS ENERGY CORP COM 8,300 248 229
ATRIX LABS INC 1,800 14 11
ATS MED INC 14,500 91 82
AUDIOVOX CORP 2,600 39 42
AUGAT INC COM 5,400 102 99
AURA SYS INC 6,400 36 48
AUTOTOTE CORP 24,300 460 535
27
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
AUTOZONE INC 51,300 $1,915 $2,937
AVATAR HLDGS INC COM 4,800 173 161
AVNET INC COM 30,700 877 1,197
AYDIN CORP COM 1,800 27 22
AZTAR CORP 14,400 130 95
B J SERVICES 10,000 194 193
BABBAGES INC 2,500 61 36
BAKER J INC COM 19,700 259 345
BALLARD MED PRODS COM 23,900 441 311
BALLY GAMING INTERNATIONAL INC 7,000 112 121
BALTIMORE BANCORP COM 40,100 329 571
BANCORP HAWAII INC COM 20,300 906 832
BANCORPSOUTH INC 11,615 383 383
BANCTEC INC COM 25,800 275 626
BANDAG INC COM 15,200 942 842
BANK ATLANTIC FED SVGS BANK 8,200 118 113
BANK GRANITE CORP 2,100 60 65
BANK NEW YORK INC COM 76,676 3,324 4,371
BANK NORTH GROUP INC 5,400 106 105
BANK SOUTH CORP COM 55,200 569 842
BANKWORCHESTER CORP 11,800 349 386
BANPONCE CORP NEW 30,000 718 930
BANTA GEORGE INC COM 12,400 383 450
BAROID CORP NEW 62,400 359 515
BARR LABS INC 5,000 52 99
BARRA INC 19,300 169 123
BARRETT RES CORP 2,500 28 26
BATTLE MTN GOLD CO CL A 102,400 751 1,037
BAYBANKS INC COM 14,700 324 746
BB&T FINL CORP COM 24,300 650 808
BE AEROSPACE INC 16,700 199 169
BEAR STEARNS COS INC COM 95,894 1,390 2,098
BEARINGS INC COM NEW 15,400 322 437
BECKMAN INSTRS INC 21,200 427 580
BEL FUSE INC COM 700 7 6
BELO A H CORP COM 11,800 412 625
BEN & JERRY HOMEMADE INC CL A 2,400 16 39
BENTON OIL & GAS CO 10,600 89 53
BERGEN BRUNSWIG CORP CL A COM 21,675 439 387
BERKSHIRE RLTY INC 42,900 524 472
BERLITZ INTL INC 5,755 80 79
BERRY PETE CO CL A 28,700 333 283
28
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
BERTUCCIS HOLDING CORP 3,800 $ 80 $ 93
BEST BUY INC COM 25,950 314 1,207
BETZ LABS INC COM 25,300 1,444 1,110
BGS SYS INC COM 200 5 5
BHC COMMUNICATIONS INC 6,400 351 525
BIC CORP 5,300 158 164
BIG B INC COM 9,900 120 121
BINDLEY WESTN INDS INC COM 24,300 315 289
BIOCRAFT LABS INC COM 3,100 90 66
BIOGEN INC 20,800 822 829
BIOTECHNOLOGY GEN CORP COM 6,000 34 32
BIOWHITTAKER INC COM 3,700 27 23
BIRMINGHAM STL CORP COM 13,900 284 386
BISYS GROUP INC 15,100 289 260
BLACK HILLS PWR & LT CO COM 14,400 335 328
BLAIR CORP 3,700 180 155
BLOCK DRUG INC CL A COM 12,923 539 481
BMC SOFTWARE INC 16,000 1,028 768
BOATMENS BANCSHARES INC COM 9,120 227 272
BOB EVANS FARMS INC COM 38,733 656 847
BOLT BERANEK & NEWMAN INC COM 15,400 127 185
BOMBAY INC 18,000 614 810
BON-TON STORES INC 44,300 342 365
BOOLE & BABBAGE INC COM 3,200 84 80
BORDERBUND SOFTWARE INC COM 9,400 243 324
BORLAND INTL INC 20,200 906 300
BOSTON EDISON CO COM 48,800 1,238 1,452
BOSTON SCIENTIFIC CORP 39,800 543 498
BOSTON TECHNOLOGY INC 9,900 74 84
BOWATER INC COM 32,000 767 736
BOX ENERGY CORP 10,500 158 273
BRADY W H CO 1,800 73 77
BREED TECHNOLOGIES INC 55,600 781 855
BRENCO INC COM 5,100 48 62
BRIDGEFORD FOODS CORP 10,550 146 98
BRINKER INTL INC 35,000 891 1,610
BROOKE GROUP LTD 200 0 1
BROOKLYN UN GAS CO COM 45,150 1,026 1,236
BROOKTREE CORP 9,000 130 95
BROWN TOM INC 6,000 92 68
BRUSH WELLMAN INC COM 19,200 284 274
BUCKLE INC COM 8,400 114 134
29
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
BUFFETS INC COM 22,800 $ 311 $ 587
BURLINGTON COAT FACTORY WHSE CORP COM 9,250 160 212
BURLINGTON INDS EQUITY INC 56,800 830 880
BURNHAM PAC PPTYS INC COM 13,900 272 238
BUSINESS RECORD CORP HLDG CO COM 2,700 59 90
BUTLER MFG CO DEL COM 27,100 361 735
BUTTREY FOOD & DRUG STORES CO 1,900 15 11
BWIP HOLDINGS, INC 19,200 543 485
C COR ELECTRS INC COM 2,900 46 52
C I S TECHNOLOGIES INC 6,400 34 20
C R I LIQUIDATING REIT INC 27,200 227 231
C TEC CORP COM 7,900 144 237
C V REIT INC 5,387 56 50
CABLETRON SYS INC 12,300 1,222 1,384
CABLEVISION SYS CORP 5,800 311 394
CABOT CORP COM 14,200 517 765
CABOT MED CORP COM 5,610 35 32
CABOT OIL & GAS CORP 18,782 425 397
CADENCE DESIGN SYS INC 34,000 722 395
CAERE CORP 2,200 21 21
CAESARS WORLD INC (DEL) 21,300 797 1,137
CALDOR CORP COM 8,400 233 214
CALGENE INC COM (CALIF) 17,500 227 230
CALGON CARBON CORP COM 14,700 345 191
CALIFORNIA ENERGY COM 25,980 291 481
CALIFORNIA FED BK A 21,560 354 331
CALIFORNIA MICROWAVE INC COM 25,200 365 611
CALIFORNIA WATER SVC CO COM 5,300 190 205
CALLAWAY GOLF CO 10,100 569 539
CALMAT CO COM 12,500 286 264
CAMBEX CORP 14,900 94 61
CAMBREX CORP COM 800 7 16
CAMBRIDGE BIOTECH CORP 51,000 408 128
CANYON REH CORP 9,400 33 38
CAPITAL RE CORP 7,100 181 183
CAPSTEAD MORTGAGE CORP 11,900 303 488
CARAUSTAR INDS INC 40,400 598 677
CARDINAL DISTR INC COM 14,900 428 708
CAREMARK INTERNATIONAL INC 58,400 934 1,153
CARLISLE CORP COM 16,200 305 541
CARLISLE PLASTICS INC 3,600 22 27
CARMIKE CINEMAS INC 1,600 24 29
30
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
CAROLINA FREIGHT CORP COM 18,000 $ 341 $ 230
CARPENTER TECHNOLOGY CORP COM 6,300 305 365
CARRINGTON LABS INC COM 16,300 200 232
CARTER WALLACE INC COM 18,000 548 385
CASEYS GEN STORES INC COM 21,600 323 529
CASH AMER INVTS INC COM 17,400 177 163
CASINO MAGIC CORP 11,100 241 150
CASTLE A M & CO COM 9,300 113 160
CATELLUS DEV CORP COM 28,000 286 217
CATHERINES STORES CORP 18,700 371 327
CATO CORP 17,700 375 354
CBI INDS INC COM 29,800 929 905
CCAIR INC COM 3,900 35 22
CCB FINL CORP 400 15 13
CEL-SCI CORP 15,600 22 22
CELLPRO INC 12,800 236 445
CELLULAR INC 5,300 88 93
CENTENNIAL CELLULAR CORP 2,000 30 49
CENTERBANK WATERBURY CONN COM 7,500 89 87
CENTERIOR ENERGY CORP COM 128,800 2,410 1,707
CENTEX TELEMGMT INC COM 52,800 635 257
CENTIGRAM COMMUNICATIONS CORP 8,100 253 288
CENTOCOR INC COM 34,000 883 404
CENTRAL FID BKS INC COM 32,250 786 895
CENTRAL HUDSON GAS & ELEC CORP COM 24,900 803 756
CENTRAL JERSEY BANCORP COM 6,300 145 139
CENTRAL LA ELEC INC COM NEW 24,100 577 596
CENTRAL ME PWR CO COM 30,900 647 464
CENTRAL NEWPAPERS INC 5,600 151 155
CENTURY COMMUNICATIONS CORP 39,393 343 453
CENTURY TEL ENTERPRISES INC COM 25,450 697 655
CEPHALON INC COM 13,100 204 215
CERNER CORP COM 5,100 153 222
CHAMBERS DEV INC 44,500 539 178
CHAMPION ENTERPRISES INC COM 5,300 99 93
CHARTER BANCSHARES INC 5,040 65 71
CHARTER GOLF INC 10,200 101 110
CHARTER MEDICAL CORP 14,600 317 378
CHECKERS DRIVE-IN RESTAURANTS INC 30,150 370 350
CHECKPOINT SYS INC 38,800 376 427
CHEM FINL CORP 2,900 136 134
CHEMED CORP COM 12,500 311 381
31
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
CHEMICAL WASTE MGMT IN COM 45,200 $ 930 $ 373
CHEMTRAK INC 18,500 106 83
CHEYENNE SOFTWARE INC COM 16,500 132 460
CHICAGO & NORTH WESTN HOLDINGS CORP 38,000 811 950
CHILES OFFSHORE CORP COM 8,200 44 41
CHIPCOM CORP 5,900 250 298
CHIPS & TECHNOLOGIES INC COM 16,500 180 107
CHIQUITA BRANDS INTL INC 27,700 658 319
CHIRON CORP COM 24,720 1,379 2,076
CHOCK FULL O NUTS CORP COM 8,164 65 65
CHRIS CRAFT INDS INC COM 11,367 302 416
CHROMCRAFT REVINGTON INC 15,500 289 341
CHURCH & DWIGHT INC COM 13,100 336 370
CILCORP INC COM 14,800 533 555
CINCINNATI BELL INC COM 54,800 1,067 986
CINCINNATI FINL CORP COM 42,600 1,901 2,279
CINCINNATI GAS & ELEC CO COM 77,900 1,882 2,142
CINTAS CORP COM 20,400 579 694
CIPSCO INC 32,800 921 1,009
CIRCA PHARMACEUTICALS INC 49,600 472 465
CIRCON CORP 10,000 306 115
CIRCUS CIRCUS ENTERPRISE INC COM 64,800 1,891 2,381
CIRRUS LOGIC INC 17,900 440 662
CISCO SYS INC. 80,800 2,519 5,222
CITADEL HLDG CORP COM 5,400 87 63
CITIZENS BANCORP MD COM 9,300 251 251
CITIZENS FIRST BANCORP INC N J COM 31,300 208 215
CITIZENS INC 5,200 37 44
CITIZENS UTILS CO DEL 38,352 648 690
CITY NATL CORP COM 28,300 362 212
CLAIRES STORES INC 35,000 341 634
CLARCOR INC COM 5,800 109 123
CLAYTON HOMES INC COM 31,756 404 770
CLEAR CHANNEL COMMUNICATIONS INC 6,000 219 276
CLEVELAND CLIFFS INC COM 5,900 204 221
CLINICOM INC 7,800 95 170
CLOTHESTIME INC COM 11,200 134 88
CMI CORP OKLA 6,500 29 45
CML GROUP INC COM 47,000 711 1,110
CMS ENERGY CORP COM 72,100 1,519 1,812
CNB BANC SHARES INC 3,150 101 99
COAST SAVINGS FINL INC 14,200 213 202
32
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
COASTAL HEALTHCARE GROUP INC 4,700 $ 113 $ 187
COASTOL BANC SVGS ASSN 8,300 113 110
COCA COLA BOTTLING CO CONS 14,200 297 518
COCA COLA ENTERPRISE INC 59,900 842 913
COEUR D ALENE MINES CORP IDAHO 30,235 502 650
COGNEX CORP COM 5,900 86 87
COHERENT INC COM 4,300 57 55
COLLAGEN CORP COM 5,600 144 155
COLLECTIVE BANCORP INC 16,800 374 365
COLTEC INDS INC 35,900 618 673
COLUMBIA HEALTHCARE CORP 3,000 81 99
COLUMBIA LABS INC. 4,500 22 27
COMAIR HOLDINGS,INC 23,175 208 530
COMCAST CORP CL A 62,400 2,063 2,270
COMDATA HLDGS CORP 8,200 56 66
COMDISCO INC COM 20,965 404 404
COMERICA INC COM 102,518 2,705 2,730
COMMERCE BANCHSHARES INC COM 23,750 607 677
COMMERCE CLEARING HOUSE INC 19,100 388 349
COMMERCIAL ASSETS INC 19,150 0 120
COMMERCIAL FED CORP COM 19,400 269 386
COMMERCIAL INTERTEC CORP 18,300 324 357
COMMERCIAL METALS CO COM 12,900 262 484
COMMONWEALTH ENERGY SYS 1,000 45 46
COMMUNITY BK SYS INC COM 6,300 184 180
COMNET CORP 100 2 1
COMPASS BANCSHARES INC 29,100 629 640
COMPRESSION LABS INC COM 25,700 360 315
COMPTEK RESH INC COM 2,500 43 43
COMPUSA INC 15,700 458 312
COMSAT CORP 28,100 552 836
CONCORD CAMERA CORP 1,500 7 11
CONCORD EFS INC F/K/A CONCORD 7,300 204 162
CONNER PERIPHERALS INC COM 33,500 634 490
CONSECO INC COM 22,100 950 1,232
CONSOLIDATED PAPER INC COM 19,300 788 835
CONSOLIDATED STORES CORP COM 34,500 457 686
CONSTELLATION BANCORP COM 46,500 481 500
CONTEL CELLULAR INC 15,800 321 259
CONTINENTAL BK CORP 61,300 1,162 1,617
CONTINENTAL MED SYS INC COM 18,500 337 160
CONTINUUM INC (DEL) 21,700 314 418
33
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
CONVEX COMPUTER CORP COM 10,600 $ 50 $ 58
COPYTELE INC COM 37,300 442 485
CORDIS CORP COM 9,700 311 479
CORE INDS INC COM 44,000 350 655
CORNING INC 1,267 17 35
CORRECTIONS CORP AMER COM 1,800 14 16
COUNTRYWIDE CR INDS INC COM 45,542 1,117 1,144
COUSINS PPTYS INC COM 17,100 284 282
COVENTRY CORP 10,100 219 429
CPI CORP COM 14,800 389 255
CRACKER BARREL OLD CTRY STORE 44,737 955 1,230
CRAGIN FINL CORP 12,300 448 460
CRAWFORD & CO COM 15,000 268 238
CRAY COMPUTER CORP 10,100 28 25
CREDIT ACCEP CORP MICH 4,500 97 110
CRESTAR FINL CORP COM 32,700 933 1,369
CRIIMI MAI INC 33,100 304 368
CROMPTON & KNOWLES CORP COM 35,700 660 785
CROSS A T CO CL A 14,000 359 212
CROWN CENT PETE CORP 15,000 361 229
CROWN CRAFTS INC COM 17,900 267 315
CROWN RES CORP COM 40,000 265 185
CRSS INC. COM 27,300 298 280
CRYOMEDICAL SCI 48,400 425 194
CSF HLDGNS INC 12,300 272 255
CUC INTL INC COM 76,812 1,210 2,765
CULLEN FROST BANKERS INC COM 10,700 393 377
CULP INC COM 11,100 119 278
CURTISS WRIGHT CORP COM 1,700 63 61
CUSTOM CHROME INC 5,200 117 116
CYCARE SYS INC COM 1,100 7 9
CYPRESS SEMICONDUCTOR CORP COM 37,400 525 510
CYTEL CORP COM 15,600 84 74
CYTOGEN CORP COM 13,100 230 79
CYTRX CORP COM 22,100 104 138
DALLAS SEMI CONDUCTOR CORP COM 37,700 331 584
DAMARK INTL INC 10,900 173 248
DANAHER CORP COM 12,900 252 492
DANIEL INDS INC COM 7,800 104 100
DANIELSON HLDG CORP 1,100 8 9
DATA RACE INC 4,400 61 40
DATAPOINT CORP COM PAR $0.25 6,600 37 39
34
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
DATASCOPE CORP COM 15,600 $ 446 $ 218
DAUPHIN DEP CORP COM 20,100 380 508
DEAN FOODS CO COM 32,050 882 1,046
DEKALB ENERGY CO COM CL B 10,300 175 142
DEKALB GENETICS CORP COM CL B 3,500 125 110
DELCHAMPS INC COM 3,700 95 88
DELL COMPUTER CORP 19,900 444 450
DELMARVA PWR & LT CO 52,300 1,112 1,236
DELTA WOODSIDE INDS INC 18,200 326 202
DEPOSIT GTY CORP COM 11,600 355 325
DESIGNS INC COM 7,300 171 122
DESTEC ENERGY INC 4,800 75 69
DEVCON INTL CORP COM 500 9 3
DEVON ENERGY CORP 22,600 332 466
DEVON GROUP INC NEW 4,500 82 73
DEXTER CORP COM 17,400 389 409
DIAGNOSTEK INC COM 59,300 644 1,127
DIAGNOSTIC PRODS INC COM 5,300 102 99
DIAL REIT INC 24,700 316 238
DIAMOND SHAMROCK INC 20,400 434 495
DIASONICS ULTRASOUND INC 4,700 18 16
DIBRELL BROS INC COM 9,300 370 244
DIEBOLD INC COM 13,850 503 834
DIGI INTERNATIONAL 4,200 93 93
DIGICON INC 4,800 13 13
DIGITAL MICROWAVE CORP COM 11,300 175 336
DIME SVGS BK N Y FSB COM 10,100 77 82
DIONEX CORP COM 10,200 306 326
DIXIE YARNS INC COM 24,500 275 257
DNA PLT TECHNOLOGY CORP COM 35,000 201 158
DOLE FOOD COMPANY 41,800 1,422 1,118
DOLLAR GEN CORP COM 24,706 210 741
DONALDSON INC COM 7,800 307 345
DOUGLAS & LOMASON CO COM 17,700 166 314
DPL INC COM 95,200 1,629 1,964
DQE 48,800 1,457 1,684
DR PEPPER/SEVEN UP COS INC 50,600 935 1,214
DRAVO CORP COM 5,300 65 59
DRESS BARN INC COM 30,300 530 398
DREXLER TECHNOLOGY CORP (DEL) 700 4 6
DREYERS GRAND ICE CREAM COM 18,700 464 552
DREYFUS CORP COM 34,000 1,345 1,530
35
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
DRUG EMPORIUM INC 38,200 $ 308 $ 181
DUFF & PHELPS 15,900 309 350
DURACELL INTL INC COM 95,500 3,034 3,426
DURIRON INC 13,700 310 322
DUTY FREE INTL INC 16,700 512 332
DYNATECH CORP COM 9,300 257 216
E TOWN COM 9,300 264 293
EAGLE FOOD CTRS INC 5,000 38 30
EASTERN UTILS ASSOC COM 14,300 362 400
EATON VANCE CORP 5,000 164 170
ECI TELECOM LTD ORD 9,900 157 254
EDISON BROS STORES INC COM 11,800 400 351
EDUCATION ALTERNATIVES INC 4,600 171 158
EDWARDS A.G. INC COM 34,900 852 1,003
EGGHEAD INC 51,500 607 464
EKCO GROUP INC 700 7 5
EL PASO NAT GAS CO 40,737 1,208 1,467
ELCO INDS INC COM 26,800 305 556
ELCOR CORP COM 2,900 79 54
ELECTRONIC ARTS 33,000 294 990
ELSINORE CORP 6,300 32 29
EMBRACE SYS CORP 16,600 238 67
EMC CORP MASS COM 69,000 472 1,139
EMPI INC 24,600 279 510
EMPIRE OF CAROLINA INC COM 1,000 6 7
EMPLOYEE BENEFIT PLANS INC 32,900 410 292
EMULEX CORP (CALIF.) 6,000 39 38
ENERGEN CORP COM 10,900 265 234
ENERGY SVC INC COM 39,000 124 132
ENERGY VENTURES INC COM 10,000 175 125
ENHANCE FINL SVCS GROUP INC 18,500 384 365
ENQUIRER/STAR GROUP 26,100 449 496
ENRON OIL & GAS CO 18,200 366 710
ENTERRA CORP COM 17,200 306 353
ENVIROSURCE INC. 8,200 38 28
ENVOY CORP COM 11,600 184 206
ENZON INC COM 16,200 159 87
EPITOPE INC COM 7,100 150 145
EQUIFAX INC 68,111 1,217 1,865
EQUITABLE COS INC 66,800 1,433 1,804
EQUITABLE IOWA COS 29,600 246 1,003
36
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
EQUITABLE RES INC COM 25,900 $ 752 $ 949
ERO INC 23,500 181 170
ESCROW MILLICOM 14,200 0 0
ESKIMO PIE CORP 800 15 14
EVANS & SUTHERLAND COMPUTER CORP COM 15,800 321 304
EVERGREEN BANCORP INC DEL COM 10,000 149 123
EXABYTE CORP 13,900 418 245
EXAR CORP COM 2,800 65 66
EXCALIBUR TECHNOLOGIES CORP 1,600 21 19
EXCEL INDS INC COM 1,200 15 22
EXECUTIVE TELECARD LTD 6,300 77 83
EXPEDITORS INTL WASH INC COM 3,800 51 57
EXPRESS SCRIPTS INC 6,700 237 315
EZ EM CL-A CMN 50 0 0
EZCORP INC 5,200 69 81
F & M NATIONAL CORP 9,000 146 146
F&C BANCSHARES INC 6,600 126 112
FAIR ISSAC & CO INC COM 11,100 202 250
FAIRCHILD CORP 10,100 83 42
FAMILY DLR STORES INC COM 31,300 535 532
FARM & HOME FINL CORP 3,300 64 87
FASTENAL CO COM 20,000 286 620
FEDERAL MOGUL CORP COM 18,500 308 537
FEDERAL RLTY INVT TR 23,000 554 575
FEDERAL SIGNAL CORP COM 28,325 601 793
FEDERATED DEPT STORES INC NEW 114,100 1,860 2,368
FERRO CORP COM 26,100 669 835
FERRO FLUDICS CORP 4,000 52 25
FHP INTL CORP 29,040 555 784
FIELDCREST CANNON INC 7,700 207 190
FIFTH THIRD BANCORP COM 41,800 1,866 2,163
FIGGIE INTL INC 5,300 90 72
FILENES BASEMENT CORP COM 20,400 432 222
FILENET CORP COM 5,200 75 112
FINA INC CL A 3,900 252 268
FINGERHUT COMPANIES INC 3,400 70 96
FINISH LINE INC 19,200 186 144
FIRST ALA BANCSHARES INC 33,210 932 1,075
FIRST AMERN CORP TENN COM 23,100 518 739
FIRST AMERN FINL CORP CALIF 6,000 177 210
FIRST BANCORPORATION OHIO INC 23,700 600 616
FIRST BK SYS INC COM 87,700 2,284 2,697
37
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
FIRST BRAND CORP 13,600 $ 368 $ 469
FIRST CITIZENS BANCSHARES INC N C 4,000 192 186
FIRST COLONIAL BANKSHARES CORP 8,000 140 152
FIRST COLONY CORP 13,402 383 340
FIRST COML CORP 5,900 194 198
FIRST COMM BANCSHARES INC 600 10 9
FIRST COMM BANCSHARES INC 2,400 35 31
FIRST COMM CORP COM 17,350 553 545
FIRST DATA CORP 77,600 2,920 3,162
FIRST EASTN CORP P A COM 9,800 219 246
FIRST EMPIRE ST CORP COM 3,100 297 436
FIRST FED MICH CORP 14,800 337 377
FIRST FED SVGS BK PR 10,600 126 176
FIRST FINL BANCORP 2,400 110 131
FIRST FINL CARRIBEAN CORP 12,600 186 211
FIRST FINL CORP WIS COM 28,200 460 472
FIRST FINL MGMT CORP COM 53,000 1,740 3,008
FIRST HAWAIIAN INC COM 20,800 550 515
FIRST MICH BK CORP 6,600 173 183
FIRST MIDWEST BANCORP INC DEL 9,100 238 230
FIRST NATL BANCORP 4,300 88 90
FIRST OF AMERICA BANK CORP 44,200 1,474 1,735
FIRST PAC NETWORKS INC 10,500 173 113
FIRST SEC CORP DEL COM 34,400 870 894
FIRST SVGS BK FBS SC 8,500 142 141
FIRST TENN NATL CORP COM 25,450 905 980
FIRST USA INC 38,300 864 1,369
FIRST VA BKS INC COM 36,850 1,144 1,207
FIRST WESTERN PENN 4,410 134 131
FIRSTAR CORP NEW COM 40,300 1,003 1,239
FIRSTIER INC COM 8,100 434 402
FISERV INC COM 23,750 408 457
FISHER SCIENTIFIC INTL INC 8,200 268 290
FLAGSTAR COS INC 16,000 184 148
FLEET MTG GROUP INC 28,100 563 467
FLEXSTEEL INDS INC COM 4,800 74 84
FLIGHTSAFETY INTL INC COM 13,900 670 476
FLORIDA EAST COST INDS INC 1,400 68 92
FLORIDA PROGRESS CORP COM 82,450 2,515 2,772
FLORIDA ROCK INDS INC COM 2,800 69 83
FLOW INTL CORP 30,000 192 242
FLOWERS INDS INC (GEORGIA) COM 33,700 683 645
38
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
FLUKE JOHN MFG INC COM 2,000 $ 55 $ 49
FMC GOLD CO 5,800 32 30
FOCAL SURGERY INC 4,700 7 6
FOOD LION INC CL B 322,450 3,565 2,136
FOODMAKER INC NEW COM 49,800 554 486
FOOTE CONE & BELDING 5,400 208 259
FOOTHILL GROUP INC (DEL) 11,200 144 186
FOREMOST CORP AMER COM 13,800 273 476
FOREST LABS INC COM 32,500 1,189 1,548
FOREST OIL CORP COM 13,900 73 61
FORSCHNER GROUP INC COM 2,516 36 38
FORT WAYNE NATL CORP IND COM 6,000 243 224
FOUNDATION HEALTH CORP 26,010 894 806
FOURTH FINL CORP COM 24,100 712 705
FRANKLIN ELEC INC COM 13,400 240 476
FRANKLIN ELECTRONICS PUBLISHERS INC 5,400 68 72
FRANKLIN QUEST CO 16,400 443 574
FRANKLIN RESOURCES INC COM 40,200 1,218 1,844
FREEPORT MC MORAN INC COM 128,900 2,537 2,546
FREEPORT MCMORAN COPPER & GOLD INC 59,700 1,203 1,493
FREMONT GEN CORP COM 8,800 237 218
FRESENIUS USA INC 2,600 22 19
FRISCHS RESTAURANTS INC COM 1,285 10 18
FRONTIER INS GROUP INC 3,300 156 148
FRUIT OF THE LOOM 57,700 1,993 1,392
FULLER H B CO COM 12,050 446 434
FUND AMERICAN ENTERPRISES HOLDING 8,700 457 683
FURON CO 18,400 252 276
G & K SVCS INC CLASS A 10,800 223 254
GAINSCO INC COM 9,205 117 84
GALEY & LORD INC 19,500 241 273
GALLAGHER ARTHUR J & CO COM 12,900 434 468
GALVESTON HOUSTON COM 3,200 14 13
GARAN INC COM 2,300 66 75
GATES/FA DISTRG INC 5,300 88 99
GATX CORP COM 14,600 455 595
GAYLORD CONTAINER CORP 21,800 55 99
GAYLORD ENTMT CO 32,700 719 920
GEICO CORP COM 27,400 1,115 1,408
GENCARE HEALTH SYS INC 12,000 326 357
GENCORP INC 31,700 341 452
GENELABS TECHNOLOGIES INC 15,800 85 66
39
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
GENERAL CABLE CORP 75 $ 0 $ 0
GENERAL DATACOMM INDS INC COM 6,600 67 68
GENERAL INSTRUMENTS CORP 50,200 1,994 2,836
GENERAL MOTORS CORP CL E 194,700 5,612 5,695
GENERAL PUB UTILS CORP COM 100,300 2,582 3,097
GENESIS HEALTH VENTURE INC 29,000 304 682
GENETIC THERAPY INC 20,800 365 338
GENEVA STEEL 20,900 369 355
GENSIA INC F/K/A GENSIA PHARMACEUTICALS 13,800 430 342
GENTEX CORP COM 35,200 191 1,241
GENZYME CORP COM 17,000 725 468
GEORGIA GULF CORP 25,300 536 566
GEOTEK COMMUNICATIONS 33,500 441 528
GERBER SCIENTIFIC INC COM 9,500 126 132
GERRITY OIL & GAS CORP COM 8,600 128 100
GETTY PETE CORP COM 3,000 36 45
GFC FINL CORP 20,100 525 583
GIANT GROUP LTD COM 100 1 1
GIBSON GREETINGS INC COM 21,400 502 452
GILBERT ASSOC INC CL A 2,900 54 45
GLATFELTER P H CO COM 23,700 581 441
GLEASON CORP COM 2,400 37 36
GLENAYRE TECHNOLOGIES INC 8,800 224 383
GLENDALE FED BK FED SVGS BK CALIF 428 75 3
GLOBAL MARINE INC 85,100 372 351
GLOBAL NAT RES INC COM 8,300 68 60
GM HUGHES ELECTRONICS CORP 59,900 1,428 2,336
GOOD GUYS INC COM 21,700 351 282
GOODYS FAMILY CLOTHING INC 21,950 458 274
GOODYS PRODS INC 800 0 0
GOULDS PUMPS INC COM 19,700 446 490
GOVERNMENT TECHNOLOGY SVCS INC 11,800 128 145
GRACO INC COM 2,600 74 95
GRANCARE INC 3,100 54 56
GRAND CASINOS INC 5,600 206 132
GRANITE CONSTR INC 6,300 121 158
GRAPHIC INDUSTRIES INC COM 1,600 14 13
GRAPHIC SCANNING CORP 1,500 0 0
GRC INTL INC 2,400 15 18
GREAT AMERN MGMT & INVT INC COM 3,900 129 125
GREATER NEW YORK SVGS BK 8,200 44 59
GREEN TREE FINL CORP F/K/A 26,900 684 1,291
40
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
GREENWICH PHARMACEUTICALS INC 45,500 $ 448 $ 125
GRENADA SUNBURST SYS CORP COM 13,700 307 339
GREY ADVERTISING INC COM 1,300 244 243
GREYHOUND LINES INC 7,700 161 89
GROSSMANS INC COM 9,100 27 27
GROUNDWATER TECHNOLOGY INC COM 20,900 389 287
GROW GROUP INC COM 8,200 126 130
GTECH HOLDINGS CORP 28,300 986 927
GTI CORP COM 14,200 185 392
GUILFORD MLS INC COM 10,300 226 242
GULF STS UTILS CO COM 103,300 1,379 2,092
GUNDLE ENVIRONMENTAL SYS INC COM 50,300 436 371
GYMBOREE CORP 8,100 330 360
HADCO CORP COM 4,300 41 35
HAEMONETICS CORP MASS 12,500 315 347
HANCOCK FABRICS INC 36,400 533 346
HANCOCK HLDG CO 2,000 60 66
HANDY & HARMAN COM 20,000 240 300
HANGER ORTHOPEDIC GROUP INC 5,200 36 33
HANNAFORD BROS COM 27,300 624 587
HANOVER DIRECT INC 18,600 92 114
HARLEY DAVIDSON INC 33,000 903 1,456
HARLEYVILLE NATL CORP PA 600 23 27
HARMAN INTL INDS INC NEW 4,800 106 138
HARMON INDS INC NEW COM 5,600 109 129
HARPER GROUP COM 6,700 101 121
HARSCO CORP COM 23,200 784 943
HARTFORD STEAM BOILER 17,900 949 797
HAUSER CHEMICAL RESEARCH INC 3,800 67 30
HAVERTY FURNITURE COS INC COM 42,300 271 724
HAWAIIAN ELEC INDS INC COM 17,300 618 621
HAWKEYE BANCORP 1,700 33 33
HAYES WHEELS INTL INC 14,500 389 444
HBO & CO COM 10,900 281 501
HCA-HOSPITAL CORP OF AMER 143,600 2,708 4,918
HEALTH & REHAB PPTYS TR 23,100 279 341
HEALTH CARE & RETIREMENT CORP DEL 21,200 420 472
HEALTH CARE PPTY INVS INC COM 21,800 488 591
HEALTH CARE REIT INC COM 10,700 188 245
HEALTH CARE SVCS GROUP INC 24,900 376 293
HEALTH EQUITY PPTYS INC 8,000 73 75
HEALTH MGMT ASSOC INC NEW 23,050 557 674
41
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
HEALTHCARE COMPARE CORP 26,984 $ 669 $ 664
HEALTHDYNE INC COM 39,300 484 265
HEALTHINFUSION INC 300 2 2
HEALTHSOURCE INC. 15,900 244 878
HEALTHSOUTH REHABILITATION CORP 12,250 313 309
HEALTHTRUST INC 73,800 1,176 1,965
HEALTHWISE AMERICA INC 2,370 104 59
HEART TECHNOLOGY INC 15,400 301 343
HEARTLAND EXPRESS INC COM 3,000 80 74
HECHINGER COM 46,700 500 455
HECLA MNG CO COM 48,300 372 561
HEIDEMJ N.V. 23,926 303 224
HEILIG MEYERS CO COM 40,050 660 1,562
HELEN OF TROY CORP 3,300 59 51
HELENE CURTIS INDS INC COM 6,900 291 200
HELIX TECHNOLOGY CORP COM 200 1 3
HERBALIFE INTL INC 22,200 283 394
HERITAGE MEDIA CORP 3,000 41 60
HI-LO AUTOMOTIVE INC 7,600 103 75
HIBERNIA CORP 69,400 401 538
HILLENBRAND INDS INC COM 24,500 856 1,020
HILLHAVEN CORP 9,980 175 188
HOLLY CORP COM 300 9 8
HOLLYWOOD PK INC 20,000 528 600
HOME BEN CORP CL B 5,900 154 136
HOME OFFICE REFERENCE LAB INC 20,100 273 372
HOME SHOPPING NETWORK COM 47,160 457 702
HOMEDCO GROUP INC COM 8,300 222 255
HOMEFED CORP COM 1,400 39 5
HON INDS INC COM 17,700 334 496
HONDO OIL & GAS CO 17,100 201 98
HORACE MANN EDUCATORS CORP 23,900 667 598
HORIZON BK BELLINGHAM WASH 5,300 89 83
HORIZON HEALTHCARE CORP 8,800 146 177
HORMEL GEO A & CO COM 30,700 625 679
HORSEHEAD RESOURCE DEVELOPMENT 31,900 257 108
HOUGHTON MIFFLIN CO COM 10,100 294 491
HOUSE FABRICS INC COM 3,200 38 26
HOWTEK INC COM 1,600 14 11
HRE PROPERTIES COM 23,200 302 331
HUBBELL HARVEY INC CL B 19,865 1,038 1,075
HUDSON FOODS INC 5,000 62 56
42
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
HUFFY CORP COM 26,400 $ 400 $ 488
HUMANA INC COM 131,600 1,101 2,336
HUNT J B TRANS SVC INC COM 19,300 443 449
HUNT MFG CO COM 19,200 302 298
HUNTINGTON BANCSHARES INC COM 85,573 1,507 2,022
I C H CORP COM 12,000 63 62
IBP INC COM 43,000 766 1,113
ICF KAISER INTL INC 2,900 13 14
ICN PHARMACEUTICALS INC COM 49,000 345 435
ICOS CORP 34,800 256 196
ICU MED INC COM 2,900 35 47
IDAHO PWR CO COM 34,100 932 1,036
IDB COMMUNICATIONS GROUP INC COM 7,900 325 435
IDEC PHARMACUTICALS 400 4 2
IDEX CORP 2,200 63 79
IDEXX LABS INC 19,000 264 606
IES INDS INC 29,800 870 931
IHOP CORP NEW COM 5,500 132 160
ILLINOIS CENTL CORP 31,150 764 1,118
ILLINOIS PWR CO COM 64,200 1,415 1,420
IMAGE ENTERTAINMENT INC 7,600 45 44
IMC FERTILIZER GROUP INC COM 17,700 781 803
IMCLONE SYS INC 2,500 18 15
IMCO RECYCLING INC 24,300 281 295
IMMULOGIC PHARMACEUTICAL CORP 13,100 145 177
IMMUNE RESPONSE CORP DEL 11,600 240 119
IMMUNEX CORP 11,700 294 190
IMMUNOGEN INC 9,600 86 88
IMMUNOMEDIC INC COM 20,900 140 115
IMP INC 6,700 13 9
IMPERIAL HOLLY CORP 3,000 48 28
IN FOCUS SYS INC 10,100 124 152
INACOM CORPORATION 1,700 33 23
INDEPENDENCE BANCORP INC PA COM 5,900 176 220
INDEPENDENT INS GROUP INC 12,900 208 203
INDIANA ENERGY INC COM 20,750 454 451
INDIANA FED SVGS & LN ASSN VAPARAISO 300 7 7
INDRESCO INC 45,600 600 707
INFINITY BROADCASTING CL A 35,350 886 1,069
INFORMATION RES INC COM 19,100 607 735
INFORMIX CORP COM 55,100 868 1,171
INGLES MKTS INC CL A 1,600 15 18
43
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
INPUT/OUTPUT INC 36,500 $ 477 $ 876
INSITUFORM MID AMER 2,133 26 30
INSITUFORM TECHNOLOGIES INC 11,600 262 142
INSTEEL INDS INC COM 24,640 179 268
INSTRON CORP COM 3,500 41 39
INSTRUMENT SYS CORP 45,300 287 402
INSURANCE AUTO AUCTIONS INC 3,200 114 119
INTEGRA FINL CORP 27,580 1,057 1,186
INTEGRATED CIRCUIT SYSTEMS 7,100 93 92
INTEGRATED DEVICE TECHNOLOGY INC COM 51,900 400 889
INTEGRATED HEALTH SERVICES INC 6,400 184 182
INTELLIGENT ELECTRS INC COM 26,600 272 728
INTERACITIVE NETWORK INC 7,000 82 77
INTERCO INC 51,300 657 673
INTERDIGITAL COMMUNICATIONS CORP 13,700 95 72
INTERFACE INC 29,000 336 442
INTERGROUP HEALTHCARE CORP 4,100 120 197
INTERLAKE CORP COM 2,222 9 6
INTERLEAF INC COM 1,700 15 13
INTERMET CORP COM 41,800 420 387
INTERNATIONAL ALUM CORP COM 7,000 181 167
INTERNATIONAL CABLECASTING TEC INC 14,600 81 47
INTERNATIONAL CABLETEL INC COM 6,500 122 153
INTERNATIONAL DAIRY QUEEN INC 15,700 301 283
INTERNATIONAL GAME TECHNOLOGY 99,400 1,879 2,932
INTERNATIONAL GAMING MGMT INC 5,700 58 36
INTERNATIONAL MULTIFOODS CORP COM 11,650 310 224
INTERNATIONAL RECOVERY CORP 100 2 2
INTERNATIONAL RECTIFIER CORP COM 22,700 245 318
INTERNATIONAL TECHNOLOGY CORP 43,100 350 162
INTERNEURON PHARMACEUTICALS INC 11,400 99 115
INTERSTATE BAKERIES CORP 26,100 483 398
INTERTAN INC COM 19,500 407 110
INTERTRANS CORP COM 26,400 290 350
INTERVOICE INC 40,800 180 653
INVACARE CORP COM 5,400 138 149
INVITRO INTL 3,200 38 20
IOMEGA CORP COM 54,700 402 140
IONICS INC COM 2,500 109 124
IOWA ILL GAS & ELEC CO COM 32,200 777 793
IOWA NATL BANKSHARE INC 3,000 69 74
IPALCO ENTERPRISES INC COM 34,300 1,130 1,218
44
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
IPL SYS INC 300 $ 3 $ 3
IRT PPTY CO COM 10,300 127 111
ISIS PHARMACEUTICAL 7,800 45 53
ISOMEDIX INC COM 16,300 302 310
ITEL CORP NEW COM 20,100 461 563
IVAX CORP COM 27,700 768 796
IWC RES CORP INC COM 11,700 215 252
J & J SNACK FOODS CORP COM 24,800 322 512
J M C GROUP INC 3,400 40 29
JACKPOT ENTERPRISES COM 9,500 165 129
JACOBS ENGR GROUP INC COM 6,400 157 153
JACOBSON STORES INC COM 2,900 40 39
JAN BELL MARKETING INC COM 19,400 264 182
JEAN PHILIPPE FRAGRANCES INC 11,900 185 147
JEFFERIES GROUP INC COM 3,200 89 104
JEFFERSON BANKSHARES INC VA 3,300 72 64
JOHN NUVEEN CO 15,100 554 379
JONES APPAREL GROUP INC 11,400 341 341
JOY TECHNOLOGIES INC 15,100 154 181
JSB FINANCIAL INC. 8,900 216 206
JUNO LTG INC COM 20,300 344 421
JUSTIN INDS INC COM 15,300 289 226
K N ENERGY INC COM 14,250 239 367
KAMAN CORP CL A 36,800 335 373
KANSAS CITY PWR & LT CO COM 56,400 1,217 1,297
KANSAS CITY SOUTHN INDS INC 26,700 505 1,375
KARCHER CARL ENTERPRISES INC 1,000 7 11
KASLER HLDG CO 25,700 280 196
KAYDON CORP COM 14,700 315 305
KCS ENERGY INC 7,200 174 193
KEANE INC COM 4,800 116 130
KELLWOOD CO COM 19,600 626 784
KELLY OIL CORP 7,800 109 74
KELLY SVCS INC 24,100 694 669
KEMPER CORP COM 44,600 1,557 1,617
KENDALL SQUARE RESEARCH CORP 25,600 276 154
KEY TRONIC CORP COM 3,900 39 32
KEYCORP COM 90,746 2,742 3,210
KEYSTONE CONS INDS INC COM 5,000 44 51
KEYSTONE FINL INC COM 20,000 668 638
KEYSTONE INTL INC COM 16,500 447 452
KIMBALL INTL INC 16,500 485 507
45
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
KINETIC CONCEPTS INC 59,600 $ 559 $ 246
KIRBY CORP COM 26,300 497 562
KLA INSTRS CORP COM 31,100 334 863
KLLM TRAMS SVCS INC 12,533 118 179
KNAPE & VOGT MFG CO COM 19,778 288 386
KNOWLEDGE WARE INC. 3,000 41 46
KOHL'S CORP 21,900 981 1,100
KOMAG INC COM 17,100 292 304
KRYSTAL CO 7,800 118 104
KU ENERGY CORP 35,400 948 1,027
KUHLMAN CORP COM 4,000 61 64
KYSOR INDL CORP MICH CO 38,400 311 667
L A GEAR INC 41,500 453 405
LA QUINTA MTR INNS INC COM 13,450 292 474
LA Z BOY CHAIR CO COM 7,200 200 270
LACLEDE GAS CO COM 7,100 346 337
LADD FURNITURE INC COM 32,800 302 328
LAFARGE CORP COM 19,100 293 437
LAKE SHORE BANCORP INC. 3,600 88 104
LAM RESH CORP COM 20,850 468 678
LANCASTER COLONY CORP COM 14,533 222 669
LANCE INC COM 10,400 228 237
LANDMARK GRAPHICS CORP 10,800 219 200
LANDS END INC COM 5,100 193 235
LARIZZA INDS INC COM 11,600 123 91
LATTICE SEMICONDUCTOR CORP 38,400 314 624
LAWRENCE INS GROUP 16,900 169 63
LAWSON PRODS INC COM 5,400 149 157
LAWTER INTL INC COM 21,300 294 290
LAYWERS TITLE CORP 23,775 229 431
LDDS COMMUNICATION INC GA 33,017 634 1,593
LDI CORP COM 400 3 3
LEARNING CO 8,900 149 135
LECHTERS INC 24,400 389 299
LEE ENTERPRISES INC COM 14,100 346 494
LEGENT CORP COM 23,323 662 528
LEGG MASON INC COM 15,625 259 389
LEGGET & PLATT INC COM 34,300 835 1,715
LENNAR CORP COM 14,800 277 505
LESLIE FAY COS INC COM 70,400 610 229
LEUCADIA NATL CORP COM 9,600 387 394
LG & E ENERGY CORP 28,950 944 1,172
46
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
LIBERTY BANCORP INC OKLA 5,600 $ 68 $ 157
LIBERTY CORP S C COM 14,700 406 356
LIBERTY MEDIA CORP 84,400 1,956 2,458
LIBERTY NATIONAL BANCORP INC COM 10,500 307 318
LILLIAN VERNON CORP COM 300 3 5
LILLY INDL INC F/K/A LILLY INDL 8,800 180 211
LIN BROADCASTING CORP COM 22,100 1,652 2,442
LINCARE HOLDINGS INC 27,500 496 684
LINCOLN TELECOMMUNICATIONS CO 10,900 355 403
LINDSAY MFG CO 10,050 242 357
LINEAR TECHNOLOGY CORP COM 26,700 621 1,035
LIPOSOME INC COM 23,700 224 157
LIPOSOME TECHNOLOGY INC COM 11,300 109 102
LIQUI BOX CORP COM 900 27 34
LITTLE SWITZERLAND INC 8,500 121 79
LO JACK CORP 5,500 30 38
LOCTITE CORP COM 22,900 932 842
LOEWS CORP COM 42,800 4,680 3,980
LOGICON INC COM 4,000 80 113
LOMAS FINL CORP 24,100 238 187
LONE STAR STEAKHOUSE SALOON 11,900 298 327
LONE STAR TECHNOLOGIES INC COM 18,000 169 142
LONG ISLAND LTG CO COM 101,000 2,433 2,462
LONGHORN STEAKS INC COM 1,400 15 12
LONGVIEW FIBRE CO (WASHINGTON) 36,300 523 821
LSB INDS INC COM 8,800 99 86
LSI LOGIC CORP COM 34,900 271 554
LTV CORP NEW 287 0 5
LTX CORP COM 10,500 65 39
LUBRIZOL CORP COM 62,200 1,763 2,123
LUFKIN INDS INC COM 9,500 177 169
LUKENS INC COM 9,000 428 329
LYONDELL PETROCHEMICAL CO 36,300 848 771
M A HANNA CO COM 13,800 398 450
M D C HOLDINGS INC DEL 9,900 65 58
M S CARRIERS INC COM 2,500 55 53
MAC FRUGAL'S BARGAINS CLOSE OUTS INC 25,900 486 508
MACDERMID INC COM 1,600 39 41
MACK TWAIN BANCSHARES INC 5,700 152 141
MACNEAL SCHWENDLER CORP COM 29,800 342 399
MAGMA COPPER CO NEW 32,800 444 435
MAGMA PWR CO NEW COM 9,500 269 335
47
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
MAGNA BANCORP INC 4,400 $ 175 $ 151
MAGNA GROUP INC. 17,200 286 331
MAGNETEK INC 19,700 284 293
MAIL BOXES ETC COM 29,900 474 355
MANITOWOC INC COM 7,700 243 248
MANPOWER INC 64,700 986 1,140
MANVILLE CORP 29,500 225 251
MAPCO INC COM 25,500 1,384 1,559
MARCAM CORP 5,100 61 50
MARCUS CORP COM 2,700 66 74
MARGARETTEN FINANCIAL CORP COM 14,100 215 196
MARINE DRILLING COS INC 42,500 311 244
MARION MERRELL DOW INC 108,400 2,845 1,951
MARK IV INDS INC COM 21,100 457 380
MARQUETTE ELECTRS INC 29,500 429 443
MARSAM PHARMACEUTICALS INC COM 23,050 304 496
MARSHALL & ILSLEY CORP COM 48,300 852 1,141
MARSHALL INDS COM 6,000 252 300
MARTECH USA INC 30,800 288 15
MARVEL ENTERTAINMENT GROUP INC 28,886 516 791
MASCOTECH INC 21,800 284 605
MATERIAL SCIENCES CORP COM 8,200 173 188
MATRIX PHARMACEUTICAL INC COM 800 7 8
MATRIX SVS CO 3,200 28 37
MATTEL INC COM 38,887 615 1,074
MAXICARE HEALTH PLANS INC 6,200 64 60
MAXIM INTEGRATED PRODS INC 15,300 296 732
MAXTOR CORP COM 17,600 197 97
MAXXAM INC 8,900 343 327
MBIA COM 32,300 1,926 2,031
MCCORMICK & CO INC COM NON VTG 64,700 1,517 1,593
MCEG STERLING INC 40 10 0
MCGRATH RENTCORP COM 3,900 47 57
MCN CORP COM 30,300 815 1,053
MDU RES GROUP INC COM 7,400 192 233
MEASUREX CORP COM 16,800 312 332
MEDAPHIS CORP 10,900 249 360
MEDCO CONTAINMENT SERVICES INC. 3,900 116 151
MEDCO RESH INC COM 10,700 194 162
MEDEX INC COM 5,000 123 86
MEDIA LOGIC INC 1,200 16 7
MEDICAL CARE AMERICA INC 34,252 1,158 784
MEDICAL MARKETING GRP INC 1,400 33 37
48
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
MEDICINE SHOPPE INTL INC COM 11,400 $ 278 $ 222
MEDIMMUNE INC 20,300 560 223
MEDITRUST SH BEN INT 23,400 652 758
MEDUSA CORP NEW COM 9,050 191 293
MENLEY & JAMES INC 200 1 0
MENS WEARHOUSE INC 5,100 101 166
MENTOR CORP MINN COM 5,600 67 74
MENTOR GRAPHICS CORP COM 40,300 558 554
MERCANTILE BANCORPORATION INC COM 17,600 714 794
MERCANTILE BANKSHARES CORP COM 32,600 586 623
MERCURY FIN CO 68,666 790 1,313
MERCURY GEN CORP NEW COM 7,600 253 228
MERIDIAN BANCORP INC COM 48,539 1,310 1,383
MERIDIAN INS GROUP INC 3,700 45 41
MERIS LABORATORIES INC 6,900 70 28
MERISEL INC 29,100 310 535
MERRY GO ROUND ENTERPRISES 33,775 441 110
MERRY LD & INVT INC 9,000 161 180
MESA AIRLS INC 25,200 516 447
MESA INC 28,300 215 159
METHODE ELECTRS INC COM 10,600 130 152
METRO BANCSHARES INC 4,950 81 81
METROPOLITAN FINL CORP COM 21,800 346 360
MEYER FRED INC DEL COM 18,200 582 655
MEYERS INDS INC COM 10,380 112 239
MGI PHARMACEUTICALS INC 7,600 99 112
MGIC INVT CORP 46,000 996 1,346
MGM GRAND INC 10,000 343 391
MICHAEL BAKER 1,800 11 20
MICHAEL FOODS INC COM 45,950 594 368
MICHAELS STORES INC COM 11,400 309 408
MICHIGAN NATL CORP COM 17,000 794 978
MICRO COM INC COM 800 5 4
MICRO SYS INC 1,700 23 43
MICROAGE INC COM 3,800 72 145
MICRON TECHNOLOGY INC COM 25,400 601 1,181
MICROPOLIS CORP COM 30,100 301 211
MICROPROSE INC 400 4 4
MICROSOFT CORP COM 118,675 8,878 9,568
MID AM INC 14,350 212 215
MID AMERICAN WASTE SYS INC 8,400 105 69
49
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
MID ATLANTIC MED SVS INC 13,050 $ 215 $ 334
MIDDLESEX WTR CO COM 2,500 43 53
MIDLANTIC CORP 42,800 771 1,091
MIDWEST GRAIN PRODS INC COM 5,300 140 156
MIDWEST RES INC COM 53,200 1,002 958
MILES HOMES INC 19,600 157 118
MILLER HERMAN INC COM 19,200 366 588
MILLICOM INC 3,550 0 0
MILLICOM INTL CELLULAR SA 18,281 377 302
MINNESOTA PWR & LT CO COM 18,500 556 606
MIRAGE RESORTS INC 46,700 725 1,115
MITCHELL ENERGY & DEV CORP 14,450 259 314
MOBILE GAS SVC CORP COM 1,800 33 45
MOBILE TELECOMMUNICATIONS TECHNOLOGIES 27,800 321 674
MODINE MFG CO COM 16,600 304 473
MOHAWK INDS INC COM 14,900 397 510
MOLECULAR BLOSY COM 8,900 266 166
MOLEX INC COM 39,425 1,103 1,400
MONARCH MACH TOOL CO COM 181 1 2
MONTANA PWR CO COM 47,200 1,179 1,215
MORGAN PRODS LTD COM 2,700 19 24
MORGAN STANLEY GROUP INC 37,600 2,037 2,660
MORRISON RESTAURANTS INC 24,400 307 641
MOSINEE PAPER CORP COM 4,300 120 127
MTS SYS CORP COM 11,300 264 336
MULTIMEDIA INC NEW COM 33,000 946 1,130
MURPHY OIL CORP COM 32,295 1,177 1,292
MUSICLAND STORES CORP 28,600 406 593
MYCOGEN CORP COM 15,200 226 156
MYLAN LABS INC COM 59,900 1,280 1,520
NABORS INDS INC 53,200 364 432
NAC RE CORP COM 14,300 579 425
NAMIC USA CORP 4,300 44 44
NASH FINCH CO COM 9,600 190 170
NASHUA CORP COM 11,900 347 327
NATIONAL CITY CORP COM 141,400 3,059 3,464
NATIONAL COMM BANCORPORATION COM 14,250 310 321
NATIONAL COMPUTER SYS INC COM 18,800 268 207
NATIONAL DATA CORP COM 14,600 271 246
NATIONAL FUEL GAS CO N J COM 33,800 979 1,149
NATIONAL GAS & OIL CO COM 899 9 16
NATIONAL HEALTH LABS INC 60,400 1,184 861
50
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
NATIONAL MEDIA CORP 1,200 $ 7 $ 7
NATIONAL PENN BANCSHARES INC 2,247 81 90
NATIONAL PIZZA CO 9,900 67 64
NATIONAL PRESTO INDS INC COM 5,300 296 255
NATIONAL RE CORP 23,900 866 741
NATIONAL VISION ASSOC LTD COM 23,900 292 173
NATIONSBANK CORP 24,199 875 1,186
NATIONWIDE HEALTH PPTYS INC 13,700 386 486
NATURAL WONDERS INC 27,500 330 227
NATURES BOUNTY (NEW) 4,600 70 95
NAVIGATORS GROUP INC COM 4,000 136 140
NBB BANCORP INC COM 19,400 245 720
NCH CORP COM 100 6 6
NEIMAN-MARCUS GROUP INC COM 25,000 336 469
NELLCOR INC COM 8,900 214 220
NELSON THOMAS INC COM 6,600 115 160
NEORX CORP NEW 250 2 2
NETWORK EQUIP TECHNOLOGIES COM 9,500 96 84
NETWORK GEN CORP 36,900 491 660
NETWORK SYS CORP COM 30,300 340 258
NEUTROGENA CORP COM 15,700 311 322
NEVADA PWR CO COM 34,700 746 837
NEW ENGLAND BUSINESS SVC INC 19,100 329 387
NEW ENGLAND ELEC SYS COM 59,000 1,976 2,308
NEW IMAGE IND INC 4,900 68 69
NEW JERSEY STL CORP COM 1,600 24 25
NEW LINE CINEMA CORP COM 8,800 198 228
NEW PLAN RLTY TR 37,400 828 832
NEW YORK BANCORP INC COM 5,600 119 112
NEW YORK ST ELEC & GAS CORP COM 67,300 1,983 2,069
NEW YORK TIMES CO CL A 15,971 282 419
NEWMONT GOLD CO COM 17,600 669 829
NEXTEL COMMUNICATIONS INC 74,800 2,148 2,786
NICHOLS INSTITUTE 200 1 1
NIPSCO INDS INC 60,300 1,488 1,982
NOBLE AFFILIATES INC COM 27,700 478 734
NOBLE DRILLING CORP COM 13,400 122 117
NORDSON CORP COM 6,600 340 355
NORSTAN INC COM 5,300 67 89
NORTEK INC COM 6,200 34 56
NORTH CAROLINA NAT GAS CORP COM 5,200 147 133
NORTHEAST BANCORP INC 48,400 0 0
51
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
NORTHEAST UTILS COM 120,800 $2,953 $2,869
NORTHERN TR CORP COM 47,100 1,681 1,866
NORTHFORK BANCORPORATION INC COM 8,100 89 104
NORTHWEST NAT GAS COM 11,100 397 380
NORTHWESTERN PUB SVC CO COM 5,400 167 155
NOVACARE INC. 36,900 857 563
NOVELLUS SYS INC 13,400 241 459
NOVEN PHARMACEUTICALS INC 10,700 126 151
NTN COMMUNICATIONS 18,500 152 185
NUEVO ENERGY CO 6,000 138 117
NUI CORP COM 10,500 188 274
NUTMEG INDS INC COM 30,300 349 523
NUTRAMAX PRODS INC 1,700 23 19
NWNL COS INC 19,400 279 621
NYMAGIC INC 3,300 87 84
O'SULLIVAN CORP 37,300 349 336
OAKWOOD HOMES CORP COM 12,075 260 326
OCEANEERING INTL INC COM 28,100 333 383
OCTEL COMMUNICATIONS CORP 16,600 333 461
OEA INC COM 10,900 377 309
OEC MEDICAL SYS INC 4,700 35 32
OFFICE DEPOT INC COM 58,380 1,017 1,963
OFFSHORE LOGISTICS INC COM 30,500 275 419
OFFSHORE PIPELINE 3,500 54 55
OGDEN PROJECTS 13,200 290 219
OGLEBAY NORTON CO COM 8,000 251 180
OHIO CAS CORP COM 13,500 726 861
OKLAHOMA GAS & ELEC CO COM 39,300 1,473 1,454
OLD KENT FINL CORP COM 36,250 990 1,083
OLD NATL BANCORP IND 5,500 198 213
OLD REP INTL CORP COM 44,540 969 1,008
OLIN CORP COM 13,100 632 647
OLSTEN CORP 25,374 560 745
OMEGA ENVIROMENTAL INC 20,800 131 213
OMEGA FINL CORP 800 22 20
OMI CORP COM 10,200 89 70
OMNICARE INC COM 4,600 120 147
OMNICOM GROUP COM 24,300 842 1,124
ONBANCORP INC, 9,800 342 344
ONCOR INC 6,400 37 66
OPTICAL RADIATION CORP COM 1,800 41 27
ORANGE & ROCKLAND UTILS INC COM 10,700 388 435
52
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
ORBITAL SCIENCE CORP 7,000 $ 127 $ 144
OREGON STL MLS INC COM 16,700 415 420
ORGANO GENESIS INC 2,000 17 18
ORION CAP CORP COM 13,594 258 433
ORNDA HEALTHCORP 17,900 167 282
OSHKOSH TRUCK CORP 9,000 84 79
OSMONICS INC COM 2,800 51 63
OTTER TAIL PWR CO COM 9,800 327 331
OUTBACK STEAKHOUSE INC 10,700 333 411
OUTLOOK GRAPHICS CORP 6,100 75 66
OVERSEAS SHIPHOLDING GROUP INC 20,500 355 484
OWENS & MINOR INC COM 12,050 231 277
OWENS ILL INC 107,800 1,053 1,334
OXFORD HEALTH PLANS INC 23,800 522 1,261
OXFORD INDS INC COM 20,400 281 510
PAC WESTERN BANCSH CA COM 11,300 79 97
PACIFIC CREST CAP INC 747 4 5
PACIFIC PHYSICIAN SVCS INC 26,700 348 694
PACIFICARE HEALTH SYSTEMS INC 12,100 482 452
PAGING NETWORK INC 45,600 734 1,391
PAINE WEBBER INC COM 33,100 718 894
PARAMETRIC TECHNOLOGY CORP 38,800 712 1,504
PARAMOUNT COMMUNICATIONS INC 99,551 7,587 7,740
PARK NATL CORP 400 31 31
PARK OHIO INDS INC OHIO COM 3,700 47 48
PARKER & PARSLEY PETE CO 27,500 484 681
PARKER DRILLING CO COM 71,100 407 391
PATTERSON DENTAL CO 10,300 296 335
PAXAR CORP COM 7,050 108 107
PAYCHEX INC COM 19,200 256 672
PAYCO AMERN CORP COM 29,200 317 307
PAYLESS CASHWAYS INC 25,700 342 430
PCA INTL INC 2,100 34 23
PEC ISRAEL ECONOMIC GROUP 4,300 130 134
PENN CENT CORP COM 36,800 844 1,191
PENN ENGR & MFG CORP COM 200 4 9
PENN TRAFFIC CO NEW 5,400 217 196
PENNSYLVANIA PWR & LT CO 138,900 3,536 3,750
PENTAIR INC COM 13,200 310 436
PENWEST LTD COM 12,800 331 291
PEOPLE HERITAGE FINL GROUP INC 13,400 145 161
PEOPLE TELEPHONE CO 40,950 295 399
53
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
Small Company Stock Fund:
PEOPLES WESTCHESTER SVGS BK NY 3,700 $ 146 $ 0
PERRIGO CO COM 55,800 1,204 1,911
PERRY DRUG STORES INC COM 5,600 43 34
PERSEPTIVE BIOSYSTEMS INC 18,700 350 538
PETRIE STORES CORP COM 8,000 217 233
PETROLEUM HEAT & PWR INC 10,500 103 209
PETROLEUM HELICOPTERS INC COM 400 7 4
PETROLITE CORP COM 9,700 351 340
PHARMACEUTIAL RES INC 6,700 70 112
PHARMACEUTICAL MARKETING 6,600 129 97
PHARMOS CORP 1,475 14 12
PHH CORP 10,500 341 436
PHILLIP AND JACOBS INC 1,266 15 14
PHILLIPS VAN HEUSEN CORP 14,800 455 555
PHOENIX RE CORP 3,800 121 104
PHOENIX RESOURCE COS INC 5,200 176 163
PHOENIX TECHNOLOGY LTD 1,500 8 6
PHYCOR INC COM 5,500 110 158
PICCADILLY CAFETERIAS INC COM 30,900 314 382
PICTURETEL CORP 11,100 248 208
PIEDMONT BANKGROUP INC 6,325 130 134
PIEDMONT NAT GAS INC COM 20,400 508 411
PIER 1 IMPORTS INC 35,700 311 348
PIKEVILLE NATL CORP 7,100 240 312
PINKERTONS INC NEW 20,900 395 408
PINNACLE WEST CAP CORP COM 76,900 1,392 1,721
PIONEER GROUP INC COM 5,800 96 149
PIONEER STD ELECTRS INC COM 31,050 253 582
PIPER JAFFRAY COMPANIES INC 6,800 110 124
PITNEY BOWES INC COM 1,444 52 60
PITTSTON CO 1,759 29 42
PITTWAY CORP DEL 11,100 139 358
PLAINS PETE CO COM 7,400 178 176
PLAINS RES INC 40,300 366 262
PLATINUM SOFTWARE CORP 18,100 540 457
PLATINUM TECHNOLOGY INC 21,600 272 232
PLAYBOY ENTERPRISES INC 8,900 86 116
PLAYERS INTL 11,500 276 285
PLENUM PUBG CORP COM 1,200 26 30
PLEXUS CORP 16,200 286 247
PMC CAPITAL INC 4,300 57 62
POE & BROWN INC COM 22,625 246 404
54
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
POGO PRODUCING CO COM 21,700 $ 363 $ 363
POLICY MGMT SYS CORP COM 11,400 488 353
POPE & TALBOT INC COM 19,700 311 566
PORTLAND GEN CORP COM 49,200 861 1,009
POTOMAC ELEC PWR CO COM 104,200 2,495 2,787
PRATT & LAMBERT INC COM 19,300 294 323
PRECISION CASTPARTS CORP 10,400 323 302
PREMARK INTERNATIONAL 7,800 638 626
PREMIER BANCORP INC COM 21,200 320 376
PREMIER BANKSHARES CORP 8,700 165 158
PREMIER INDL CORP COM 18,900 372 529
PRESIDENT RIVERBOAT CASINOS INC 10,650 232 234
PRESIDENTIAL LIFE CORP COM 6,100 47 54
PRESSTEK INC 9,100 179 255
PRIDE PETROLEUM SERVICES INC 2,600 13 13
PRIMEDEX HEALTH SYS INC 32,200 206 81
PROCYTE CORP 2,400 28 34
PRODUCTION OPERATORS CORP COM 16,200 422 435
PROGRESS SOFTWARE CORP 6,200 328 271
PROGRESSIVE CORP OHIO COM 48,100 1,197 1,948
PROJECTAVIAION INC 9,200 93 101
PROPERTY TR AMER 38,543 612 771
PROTECTIVE LIFE CORP COM 7,900 328 348
PROTEON INC 10,400 50 61
PROVIDENT BANCORP INC 8,400 238 281
PROVIDENT LIFE & ACC INS CO 26,300 615 812
PUBLIC SVC CO COLO COM 59,100 1,557 1,899
PUBLIC SVC CO N C INC 17,800 318 289
PUBLIC SVC CO N MEX COM 37,200 412 419
PUGET SOUND PWR & LT CO COM 57,500 1,477 1,430
PURE TECH INTL INC 6,700 115 77
PUREPAC INC 20,200 303 338
PURITAN BENNETT CORP COM 12,300 398 194
PYRAMID TECHNOLOGY CORP COM 23,600 253 348
PYXIS CORP 13,200 686 987
QMS INC COM 22,100 360 199
QUADREX CORP COM 4,500 27 16
QUAKER STATE CORP 34,300 393 459
QUAL-MED INC 8,500 155 143
QUALCOMM INC 20,000 1,284 1,060
QUALITY FOOD CTRS INC COM 1,500 56 37
QUANEX CORP COM 23,300 428 405
QUANTUM CORP COM 38,350 504 542
55
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
QUANTUM HEALTH RES INC 10,400 $ 235 $ 304
QUANTUM RESTAURANT GROUP INC 19,200 263 235
QUARTERDECK OFFICE SYS 38,500 249 84
QUESTAR CORP COM 35,900 816 1,185
QUICK & REILLY GROUP INC COM 12,789 241 457
QUIDEL CORP 4,500 22 20
QUIXOTE CORP COM 3,200 42 57
QVC NETWORK INC COM 19,500 1,037 765
R P C ENERGY SVC INC COM 26,100 247 222
RADIATION CARE INL 6,000 22 10
RADIATION SYS INC COM 20,050 282 306
RAINBOW TECHNOLOGIES INC. 5,500 122 105
RALLYS HAMBURGER INC 24,000 180 207
RALSTON CONTL BAKING GROUP 6,614 59 55
RAMSAY-HMO INC 3,400 110 129
RASTER OPS 5,000 45 36
RAVEN INDS INC COM 900 6 19
RAYMOND CORP COM 25,600 364 429
RE CAP CORP COM 8,300 118 110
READ-RITE CORP COM 33,800 750 507
READERS DIGEST ASSN INC 82,100 3,740 3,695
READING & BATES CORP 20,500 144 144
RECOGNITION INTL INC COM 31,600 268 474
REGAL BELOIT CORP 7,300 107 193
REGENCY HEALTH SVCS INC 9,400 99 132
REGENERON PHARMACEUTICALS INC. 12,800 231 198
REGIS CORP MINN 16,100 181 169
RELIANCE ELECTRIC CO 34,500 658 582
RELIANCE GROUP HLDG INC COM 8,700 78 70
REN CORP-USA 6,700 67 53
REPLIGEN CORP COM 2,800 19 19
REPUBLIC N Y CORP COM 33,750 1,457 1,578
REPUBLIC WASTE INDS INC 20,400 78 69
RESOURCE MTG CAP INC 19,900 596 570
RESPIRONICS INC 2,000 41 38
RESPONSE TECHNOLOGIES INC. 12,100 26 20
RETIX 13,700 70 135
REVCO D S INC 29,600 383 429
REXNORD CORP 13,100 208 291
REYNOLDS & REYNOLDS CO CL A 18,300 352 835
RHONE POULENC RORER INC 46,100 2,324 1,660
RIBI IMMUNOCHEM RESH INC COM 1,100 7 10
56
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
RICHARDSON ELECTRS LTD 1,200 $ 8 $ 8
RICHFOOD HLDGS INC 29,600 275 518
RIGGS NATL WASH DC COM 41,200 367 355
RIO HOTEL & CASINO INC 13,600 215 218
RISER FOODS INC 4,800 36 34
RJR NABISCO HLDGS CORP 952,460 7,325 6,072
ROADMASTER INDS INC 7,500 23 32
ROBERTS PHARMACEUTICAL CORP 4,900 138 195
ROCHESTER CMNTY SVGS BK NY COM 9,600 139 150
ROCHESTER GAS & ELEC CORP COM 37,500 895 984
ROCHESTER TEL CORP COM 27,700 998 1,250
ROCKEFELLER CTR PPTYS INC COM 42,900 565 290
ROLLINS INC COM 16,050 286 437
ROLLINS TRUCK LEASING CORP 10,500 185 201
ROOSEVELT FINL GROUP INC 3,300 144 141
ROPER INDS INC 11,500 369 374
ROSES STORES INC CL B 16,600 65 8
ROSS STORES INC COM 20,900 319 272
ROSS SYSTEMS INC 12,400 154 81
ROUSE CO COM 41,500 671 737
ROWE T PRICE & ASSOC INC COM 13,200 339 383
ROYAL APPLIANCE MFG CO 63,200 708 363
ROYCE LABS INC 7,300 43 47
RPM INC OHIO COM 40,987 615 712
RUDDICK CORP COM 19,400 291 446
RUSSELL 2000 MARCH 1994 FUTURES 18,000 0 0
RYKOFF SEXTON IN COM 10,900 201 238
RYLAND GROUP INC COM 11,700 219 234
S & P 500 MAR FUTURES 15,000 0 0
S & P MID CAP FUTURES 95,000 0 0
S & T BANCORP INC 3,800 134 137
SAFECARD SVCS INC COM 18,500 234 349
SAFEWAY INC 32,300 432 686
SAN DIEGO GAS & ELEC CO COM 101,900 2,332 2,535
SANDERSON FARMS INC COM 24,700 310 371
SANIFILL INC 5,900 104 128
SAVANNAH FOODS & INDS INC COM 27,900 492 387
SBARRO INC COM 4,300 168 190
SCANA CORP COM 42,300 1,754 2,104
SCHERER R P CORP DEL 18,000 567 680
SCHOLASTIC CORP COM 10,900 487 474
SCHULER HOMES INC 2,300 52 64
57
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
SCHULMAN A INC COM 26,887 $ 798 $ 907
SCHWAB CHARLES CORP NEW COM 30,600 700 991
SCI MED LIFE SYS INC COM 11,700 644 459
SCI SYS INC COM 22,200 425 391
SCIOS-NOVA INC 18,900 315 194
SCORE BRD INC 3,000 43 55
SCOTTS CO 20,500 349 405
SCRIPP E W CO 12,300 330 338
SCRIPPS HOWARD BROADCASTING CO COM 2,000 135 156
SEAFIELD CAPITAL CORP 3,000 92 107
SEAGATE TECHNOLOGY 59,800 855 1,420
SEAGULL ENERGY CORP COM 26,700 433 678
SEALED AIR CORP COM 12,000 273 380
SECOND BANCORP INC 100 3 3
SECURITY CAP BANCORP 8,800 125 117
SEI CORP 4,400 71 116
SELECTIVE INS GROUP INC COM 7,200 209 220
SENSORMATIC ELECTRS CORP COM 42,300 802 1,465
SEPRACOR INC COM 12,800 126 83
SEQUA CORP CLA 5,200 214 169
SEQUENT COMPUTER SYS INC COM 23,700 391 361
SERVICE MERCHANDISE INC 88,775 829 888
SFFED CORP 14,400 268 266
SGI INTERNATIONAL 37,300 201 87
SHAW INDS INC COM 105,600 1,332 2,693
SHOLODGE INC COM 300 7 7
SHORELINE FINL CORP 800 24 24
SHOREWOOD PACKAGING CORP COM 34,200 369 479
SHOWBOAT INC 8,300 177 134
SIERRA HEALTH SVCS INC. 2,200 47 49
SIERRA ON-LINE INC COM 18,300 324 336
SIERRA PAC RES COM 32,100 682 658
SIERRA SEMICONDUCTOR CORP 7,600 63 56
SIGMA ALDRICH CORP COM 44,800 2,239 2,150
SIGNAL APPAREL CO INC 1,500 14 11
SIGNET BKG CORP COM 45,800 910 1,592
SILICON GRAPHICS INC COM 100,576 1,291 2,489
SILICON VY GROUP INC COM 6,900 72 68
SILK GREENHOUSE INC 1,500 5 0
SILVER KING COMMUNICATIONS INC 120 0 1
SIMPSON INDS INC COM 23,500 300 496
SIZELER PPTY INVS INC COM 25,300 261 291
58
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
SIZZLER INTERNATIONAL INC 22,100 $ 261 $ 202
SMITH A O CORP COM 5,200 146 186
SMITH CORONA CORP 57,600 388 367
SMITH INTL INC COM 41,300 399 361
SMITHFIELD FOODS INC COM 11,400 228 211
SMITHS FOOD & DRUG CTRS INC 26,200 934 547
SMUCKER J M CO COM 14,900 480 333
SNAPPLE BEVERAGE CORP 75,500 1,515 1,982
SNYDER OIL CORP 18,100 350 321
SOCIETY CORP COM 105,240 2,848 3,131
SOFTWARE PUBG CORP COM 36,400 473 282
SOFTWARE TOOLWORKS INC 14,775 197 150
SOLECTRON CORP 30,200 192 857
SOLV EX CORP 2,700 15 16
SOMATIX THERAPIES CORP 6,100 38 52
SOMATOGEN INC 5,100 125 48
SONIC CORP 4,200 123 108
SONOCO PRODS CO COM 65,300 1,265 1,437
SOTHEBY'S HLDGS INC 22,200 325 341
SOUTHDOWN INC COM 23,000 337 564
SOUTHEASTERN MICH GAS 4,200 89 96
SOUTHERN IND GAS & ELEC CO COM 1,500 50 51
SOUTHERN NATL CORP N C COM 42,500 913 839
SOUTHERN NEW ENGLAND TELE CORP 55,300 1,829 1,998
SOUTHERN UN CO 3,450 85 91
SOUTHLAND CORP 90,900 433 614
SOUTHTRUST CORP COM 62,775 985 1,193
SOUTHWEST AIRLS CO COM 123,000 1,760 4,597
SOUTHWEST GAS CORP COM 26,800 324 429
SOUTHWESTERN ENERGY CO COM 20,300 379 365
SOUTHWESTERN PUB SVC CO COM 47,400 1,483 1,446
SOVEREIGN BANCORP INC 23,720 263 311
SPACE LABS MED INC 1,520 33 37
SPARTAN MTRS INC 21,450 318 365
SPECIAL DEVICES INC 14,900 122 115
SPECTRUM INFORMATION TECHNOLOGIES 47,700 252 364
SPELLING ENTERTAINMENT GRP INC 45,100 325 451
SPI PHARMACEUTICALS INC COM 13,430 348 195
SPIEGEL INC CLA NON - VTG 6,300 118 142
SPS TECHNOLOGIES INC COM 1,900 48 35
SPS TRANSACTION SERVICES INC 5,500 313 331
ST IVES LABORATORIES INC 18,400 168 173
59
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
ST JOE PAPER CO COM 8,900 $ 288 $ 451
ST PAUL BANCORP INC COM 6,100 163 172
STANDARD COMMERCIAL CORP 11,200 257 167
STANDARD FED BK TROY MICH COM 27,500 514 825
STANDARD MICROSYSTEMS CORP COM 21,700 308 467
STANDARD PAC CORP 3,200 21 36
STANDARD PRODS CO COM 11,900 414 417
STANDARD REGISTER CO COM 20,300 302 421
STANHOME INC COM 12,200 440 413
STAPLES INC 21,300 511 543
STAR BANC CORP 25,500 751 893
STARBUCKS CORP 28,500 701 634
STARRETT L S CO 12,700 307 318
STATE STR BOSTON CORP COM 68,000 2,336 2,550
STATESMAN GROUP INC COM 22,680 216 295
STEEL WEST VA INC 1,100 14 14
STERIS CORP 12,200 224 229
STERLING CHEMS INC COM 10,100 80 40
STERLING SOFTWARE INC COM 10,462 282 297
STEWART & STEVENSON SVCS INC COM 23,300 652 1,194
STEWART ENTERPRISES INC 22,350 368 603
STEWART INFORMATION SVCS CORP COM 2,500 66 75
STONE & WEBSTER INC COM 12,100 334 334
STOP & SHOP COS INC 39,100 921 792
STORAGE EQUITIES INC COM 20,500 284 292
STORAGE TECHNOLOGY CORP 32,076 1,369 1,022
STRATUS COMPUTER INC COM 16,400 585 515
STRAWBRIDGE & CLOTHIER COM 13,530 306 304
STRUCTURAL DYNAMICS RESH CORP COM 28,100 487 485
STRYKER CORP COM 28,400 991 802
STUDENT LN CORP 6,300 115 119
STUDENT LOAN MARKETING ASSN 73,700 4,158 3,307
SUFFOLK BANCORP 300 7 7
SULCUS COMPUTER CORP 42,600 276 330
SUMMIT BANCORPORATION COM 18,100 382 385
SUMMIT CARE CORP 8,200 130 178
SUMMIT HEALTH LTD COM 2,200 14 19
SUMMIT TECHNOLOGY INC 13,000 333 273
SUN AMERICA INC 19,600 415 848
SUN TELEVISION & APPLIANCES INC 23,800 571 506
SUNBEAN-OSTER INC 61,400 1,028 1,351
SUNDSTRAND CORP COM 32,700 1,253 1,373
60
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
SUNGARD DATA SYS INC 22,600 $ 580 $ 932
SUNRISE MED INC COM 16,600 237 498
SUNSHINE MNG CO 110,500 356 290
SUPER RITE CORP 18,500 156 197
SUPERCUTS INC 5,000 69 74
SUPERIOR INDS INTL INC COM 16,350 635 699
SUPERIOR SURGICAL MFG INC COM 3,200 38 51
SURGICAL CARE AFFILIATES INC COM 23,700 617 367
SUSQUEHANNA BANCSHARES INC 1,125 29 31
SYBASE INC 26,900 692 1,130
SYBRON CORP 35,700 923 1,142
SYMANTEC CORP 19,400 582 354
SYMBOL TECHNOLOGIES INC 15,100 279 274
SYMMETRICOM INC 9,700 147 87
SYNCOR INTL CORP NEW COM 12,500 265 280
SYNERGEN INC COM 22,700 1,001 258
SYNOPSYS INC COM 13,400 610 606
SYNOPTICS COMMUNICATIONS INC 49,200 647 1,371
SYNOVUS FINCL CORP 41,850 547 779
SYSTEM SOFTWARE ASSOC INC COM 39,250 616 599
SYSTEMED INC DEL 3,200 15 14
SYSTEMS & COMPUTER TECHNOLOGY CORP COM 6,800 90 122
T 2 MEDICAL INC 28,200 994 222
T-HQ INC 54,500 297 43
TAKECARE, INC 2,000 94 114
TAMBRANDS INC COM 34,600 2,056 1,531
TANDYCRAFTS INC COM 4,300 79 83
TANKNOLOGY ENVIRONMENTAL INC 65,400 349 401
TARGET THERAPEUTICS INC 7,900 162 137
TASTY BAKING CO COM 1,900 20 24
TBC CORP COM 22,650 311 280
TCA CABLE TV INC COM 16,400 356 467
TCBY ENTERPRISES INC COM 54,600 372 355
TCF FINANCIAL CORP COM 6,200 214 211
TECH DATA CORP COM 12,700 286 457
TECNOL MEDICAL PRODUCTS INC 23,950 412 413
TECO ENERGY INC COM 104,400 2,038 2,362
TECUMSEH PRODS CO COM 6,600 209 310
TECUMSEH PRODS CO COM 4,700 134 217
TEJAS GAS CORP DEL 5,358 291 268
TEJON RANCH CO COM 14,800 310 218
TELCO SYS INC COM 27,300 378 235
61
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
TELEFLEX INC COM 3,200 $ 103 $ 118
TELEPHONE & DATA SYS INC COM 29,611 1,229 1,543
TELLABS INC COM 22,800 358 1,077
TELXON CORP COM 12,900 240 137
TENNANT CO COM 1,700 70 80
TERADYNE INC COM 29,700 427 824
TEREX CORP NEW 3,800 28 26
TERRA INDUSTRIES 7,400 30 56
TESORO PETE CORP COM 45,700 281 251
TEXAS INDS INC COM 1,900 45 61
THERATECH INC 10,900 151 164
THERMEDICS INC COM 7,500 129 113
THERMO CARDIOSYSTEMS INC 9,000 164 162
THERMO ELECTRON CORP COM 33,700 1,039 1,415
THERMO INSTR SYS INC COM 5,100 152 178
THIOKOL CORP 18,900 289 501
THOMPSON MLS INC 7,700 157 148
THOR INDS INC COM 14,550 107 375
THORN APPLE VALLEY INC 1,500 30 34
TIDEWATER INC COM 42,500 636 850
TIFFANY & CO NEW 7,100 322 226
TIMBERLAND CO CL A 5,400 269 288
TJ INTL INC 26,800 293 811
TNP ENTERPRISES INC COM 15,400 248 254
TNT FREIGHTWAYS CORP 27,900 346 753
TODAYS MAN INC 5,200 80 95
TOKHEIM CORP COM 3,700 46 48
TOKOS MED CORP DEL 22,900 434 120
TOLL BROS INC 26,100 209 447
TOMPKINS CNTY TR CO ITHACA NY 220 6 8
TOOTSIE ROLL INDS INC COM 5,458 390 388
TOPPS INC COM 54,300 620 380
TOPS APPLIANCE CITY INC 14,400 250 277
TORO CO COM 3,900 74 109
TOSCO CORP 26,500 631 772
TPI ENTERPRISES INC COM 11,100 113 110
TRANS FINL BANCORP INC 7,100 136 117
TRANS WORLD MUSIC CORP COM 5,300 90 76
TRANSATLANTIC HLDGS INC 7,400 385 388
TREADCO INC 20,500 309 323
TRENWICK GROUP INC COM 5,400 224 211
TRIAD SYS CORP NEW 5,200 25 24
62
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
TRIARC COS IN 9,900 $ 158 $ 248
TRIMBLE NAVIGATION LTD 11,600 115 103
TRIMEDYNE INC COM 6,700 52 71
TRINITY INDS INC COM 27,300 636 1,177
TRINZIC CORP 2,300 9 13
TRISTAR CORP 500 3 3
TRITON ENERGY CORP COM 29,200 1,011 880
TRUST CO OF NEW JERSEY 5,500 87 83
TRUSTMARK CORP 15,300 228 222
TSENG LABS INC 22,200 337 239
TUBOSCOPE VETCO INTL CORP 7,300 72 45
TUCSON ELEC PWR CO COM 124,100 360 450
TUESDAY MORNING CORP 18,200 261 100
TULTEX CORP COM 6,900 69 48
TURNER BROADCASTING SYS INC 25,800 523 703
TURNER BROADCASTING SYS INC 67,700 1,591 1,828
TUSCARORA PLASTICS 5,000 78 79
TUTAL SYS SVCS INC 9,400 133 247
TWENTIETH CENTURY INDS CAL COM 26,500 572 725
TYCO TOYS COM 16,400 191 137
TYLER CORP (NEW) COMMON 19,000 95 100
TYSON FOODS INC COM CL A 81,800 1,535 1,963
U S BIOSCIENCE INC COM 24,586 574 206
U S HEALTHCARE INC COM 78,925 2,573 4,548
U S TR CORP COM 3,600 192 189
U.S. LONG DISTANCE CORP 9,000 141 128
U.S. ROBOTICS INC 4,000 107 139
UGI CORP NEW COM 27,100 550 610
UJB FINL CORP 51,100 1,056 1,226
ULTRAMAR CORP 29,100 667 738
UNIFI INC COM 52,050 1,327 1,399
UNILAB CORP NEW 9,200 62 54
UNION BK SAN FRANCISCO CALIF COM 13,200 362 337
UNION CORP COM 1,900 20 24
UNION PLANTERS CORP COM 29,100 826 731
UNION TEX PETE HLDGS INC COM 40,600 933 827
UNIQUE MOBILITY INC 2,900 17 24
UNIT CORP COM 3,700 15 10
UNITED ASSET MGMT CORP COM 12,900 543 522
UNITED BANKSHARES INC 4,600 114 121
UNITED CAROLINA BANCSHARES CORP 6,400 145 138
63
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
UNITED CITIES GAS CO COM 17,800 $ 273 $ 329
UNITED DOMINION RLTY TR INC 38,000 561 542
UNITED HEALTHCARE CORP COM 60,396 2,942 4,583
UNITED ILLUM CO COM 10,500 387 423
UNITED INS COS INC 7,500 195 191
UNITED NATL BANCORP NJ 4,372 137 137
UNITED RETAIL GROUP 29,000 354 305
UNITED STATES CELLULAR CORP 29,400 793 1,029
UNITED STATES FILTER CORP NEW 12,100 297 284
UNITED STATES SHOE CORP COM 40,700 517 611
UNITED STATIONERS INC COM 22,200 378 339
UNITED WIS SVCS INC 3,900 121 117
UNITEL CORP COM 6,438 104 126
UNITRIN INC 37,000 1,386 1,610
UNITRODE CORP COM 7,100 82 103
UNIVAR CORP COM 600 8 7
UNIVAX BIOLOGIES INC 16,300 127 118
UNIVERSAL CORP VA COM 32,000 851 820
UNIVERSAL FOODS CORP COM 23,900 823 768
UNIVERSAL HEALTH RLTY INCOME 13,600 215 226
UNIVERSAL HEALTH SVCS INC CL B 21,600 307 437
UNUM CORP COM 84,801 3,829 4,452
URETHANE TECHNOLOGIES INC 11,700 147 98
US HOME CORP 6,500 145 146
US HOME CORP CL B WTS 1,992 20 27
USA WASTE SERVICES INC 3,300 41 38
USLICO CORP 11,000 204 183
USMX INC COM 2,400 13 10
UTAH MED PRODS INC 25,200 323 198
UTILICORP UNITED INC 35,200 955 1,118
VALERO ENERGY CORP COM 38,800 995 820
VALLEY FORGE SCIENTIFIC 700 5 3
VALLEY NATL BANCORP 13,200 340 312
VALSPAR CORP COM 5,100 188 193
VALUE HEALTH INC 22,988 776 724
VANGUARD CELLULAR 18,800 490 550
VANS INC 42,500 479 223
VARCO INTL INC COM 18,300 162 110
VARIAN ASSOC INC COM 11,200 409 672
VARLEN CORP COM 27,600 278 697
VENCOR INC 10,800 299 323
VENTRITEX INC COM 22,400 681 879
VENTURE STORES INC 12,200 289 285
64
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
VERIFONE INC 15,700 $ 361 $ 302
VIACOM INC CLASS A COM 60,000 2,950 2,933
VICOR CORP 11,500 323 265
VICORP RESTAURANTS INC COM 3,000 70 55
VIEW LOGIC SYSTEMS INC 11,400 214 259
VIGORO CORP 9,800 230 296
VIKING OFFICE PRODUCTS 15,000 603 733
VISHAY INTERTECHNOLOGY INC COM 12,600 393 443
VISTA RES INC COM 2,500 57 54
VISX INC DEL 5,100 53 83
VITESSE SEMICONDUCTOR CORP 34,100 201 132
VIVRA INC 13,500 237 312
VONS COS INC COM 15,800 426 253
VULCAN MATLS CO COM 30,500 1,223 1,430
W R BERKLEY CORP COM 13,500 477 473
WABAN INC 29,100 502 396
WALBRO CORP COM 7,200 177 193
WALKER INTERACTIVE SYSTEMS INC 12,900 95 123
WALLACE COMPUTER SECS INC COM 20,200 490 684
WARNACO GROUP INC CL A 13,300 449 404
WASHINGTON ENERGY CO COM 20,500 436 372
WASHINGTON FED SVGS 26,165 608 684
WASHINGTON GAS LT CO COM 13,000 423 536
WASHINGTON MUT SVGS BK 45,300 871 1,093
WASHINGTON NATL CORP COM 17,800 270 427
WASHINGTON POST CO CL B 5,100 1,140 1,299
WASHINGTON WTR PWR CO COM 67,400 1,203 1,264
WATKINS JOHNSON CO COM 3,400 59 68
WATTS IND INC 9,200 459 455
WAUSAU PAPER MLS CO COM 9,833 345 391
WAVERLY INC 500 8 8
WD 40 CO COM 9,000 298 432
WEATHERFORD INTL INC COM 32,700 364 347
WEBB DEL CORP COM 7,800 124 125
WEINGARTEN RLTY INVS 11,400 360 428
WEIS MKTS INC COM 11,700 326 316
WELLFLEET COMMUNICATION INC 20,300 741 1,309
WELLMAN INC COM 22,800 533 428
WELLPOINT HEALTH NETWORKS 13,900 373 431
WERNER ENTERPRISES INC COM 8,200 208 250
WESCO FINL CORP COM 800 87 104
WEST ONE BANCORP 29,600 718 844
65
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
Small Company Stock Fund:
WESTERN DIGITAL CORP COM 28,900 $ 240 $ 264
WESTERN GAS RES INC 13,200 361 432
WESTERN PUBLISHING GROUP COM 25,400 370 489
WESTERN RESOURCES INC 55,851 1,560 1,948
WESTMORELAND COAL CO COM 2,811 18 15
WHEELABRATOR TECHNOLOGIES INC NEW 58,800 877 1,044
WHEELING PITTSBURGH CORP 24,900 364 426
WHITE RIV CORP 4,350 96 150
WHITTAKER CORP 3,000 42 49
WHOLE FOODS MARKET INC COM 12,200 229 275
WILLAMETTE INDS INC COM 44,298 1,643 2,193
WILLIAMS SONOMA INC COM 8,000 152 330
WILMINGTON TRUST CORPORATION 32,600 859 856
WINNEBAGO INDS INC COM 12,500 90 123
WISCONSIN ENERGY CORP COM 94,600 2,351 2,602
WISCONSIN PUB SVC CORP COM 22,700 675 763
WISER OIL CO DEL COM 14,000 244 245
WITCO CORP COM 38,000 867 1,211
WMS INDS INC COM 12,600 356 362
WORLDCORP INC COM 5,300 29 30
WORTHEN BKG CORP COM 4,800 56 106
WPL HLDGS INC 16,900 570 556
WYLE LABS COM 14,500 197 281
WYMAN GORDON CO COM 18,400 123 85
XILINX INC 17,300 424 826
XOMA CORP COM 44,800 565 235
XOMA CORPORATION NO. W-07684 579 0 0
XYPLEX INC 5,800 146 112
YORK INTERNATIONAL CORP NEW 34,000 1,150 1,199
YORK RESH CORP COM 10,400 121 61
YOUNKERS INC 19,100 417 430
ZENITH LABS INC. 15,000 324 354
ZERO CORP COM 28,700 341 463
ZILOG INC 17,550 316 535
ZIONS BANCORP COM 13,600 287 503
_______ ________
$761,841 $880,486
</TABLE>
66
<PAGE>
<TABLE><CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
International Stock Fund:
Australia:
ADELAIDE BRIGHTON $A0.50 244,855 $ 365 $ 382
BRIDGE OIL $A0.50 650,000 257 282
BROKEN HILL PTY $A1 95,402 1,053 1,138
CALTEX AUSTRALIA $A1 56,300 95 105
COLES MYER $A0.50 100,301 327 381
CRA $A2 13,000 121 162
CRUSADER $A0.20 270,000 249 200
EMAIL $A0.50 120,000 345 399
FAI INSURANCES $A0.10 400,000 223 288
FOSTERS BREWING GROUP $A1 85,140 71 84
NATL AUSTRALIA BK $A1 115,659 888 969
NEWS CORP $A0.50 50,078 292 338
PACIFIC DUNLOP $A0.50 187,000 623 688
PANCONTINENTAL MINING $A0.25 100,000 111 119
SMITH (HOWARD) $A1 61,885 239 261
WESTERN MINING CORP $A0.50 81,159 294 387
Austria:
BANK AUSTRIA SCH100 1,500 135 154
EA-GENERALI SCH100 900 250 307
OMV SCH100 3,500 221 258
Belgium:
ELECTRABEL NPV 2,500 446 465
GENERALE BANQUE NPV 1,500 348 379
KREDIETBANK NPV 1,000 212 222
PETROFINA NPV 2,500 644 680
TRACTEBEL CAP NPV 500 130 150
Denmark:
CARLSBERG A DKR20 5,300 208 230
CARLSBERG B DKR20 3,000 126 131
DANISCO A/S DKR100 2,700 356 389
DEN DANSKE BANK AF DKR100 5,000 258 283
NOVO-NORDISK A/S B DKR20 1,800 160 176
Finland:
KANSALLIS-OSAKE PK FMA10 55,000 137 125
KYMMENE FMA20 4,000 63 79
NOKIA (OY) PRF FMA20 1,400 78 70
OUTOKUMPU A FMA10 6,000 68 71
REPOLA FMA10 13,000 167 202
France:
AIR LIQUIDE FFR70 2,200 281 326
ALCATEL ALSTHOM FFR40 1,500 184 214
BSN FFR10 3,000 461 475
67
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
International Stock Fund:
France: (CONTINUED)
CARREFOUR FFR100 700 $ 365 $ 510
CASINO GUICHARD PERR FFR10 18,000 474 601
CASINO GUICHARD PERR FFR10 PREF 27,000 558 665
CIE GEN DE GEOPHYSIQUE FFR10 1,300 155 125
COMPTOIRS MODERNES FFR100 2,000 506 600
CPR-CIE PAR REESC FFR50 5,500 451 496
CREDIT FONCIER BR FFR300 2,971 591 590
CREDIT NATIONAL FFR100 2,000 243 237
DOCKS DE FRANCE FFR10 5,000 541 615
EAUX (CIE GENERALE) FFR100 750 303 371
ERIDANIA BEGHIN-SAY FFR65 3,700 523 569
ESSILOR INTERNATIONAL FFR20 5,000 485 602
EURAFRANCE FFR200 900 326 351
LVMH FFR50 600 404 380
PEUGEOT FFR35 2,000 212 267
PROMODES FFR20 3,000 424 566
SAGEM (APPLIC GEN) FFR50 1,200 396 589
SOC GENERALE FFR30 2,500 265 324
TOTAL B FFR50 9,000 492 492
Germany:
ALLIANZ AG DM50 REGD 1,100 1,482 1,836
AMB AACH + MUNCH BET DM50 REGD 300 245 232
BAYER DM50 7,000 1,124 1,466
BAYER HYPOTHEKEN&WECHSEL BK DM50 700 206 212
BAYER VEREINSBANK DM50 700 228 231
DAIMLER-BENZ DM50 1,900 705 923
DEUTSCHE BANK DM50 2,500 1,115 1,270
DRESDNER BANK DM50 800 213 211
HEIDELBERG ZEMENT DM50 300 217 201
HEIDELBERG ZEMENT DM50 NEW 42 19 28
HOCHTIEF DM50 2,200 1,396 1,429
LINDE DM 50 400 201 217
LUFTHANSA DM50 2,000 195 195
MAN DM50 1,000 200 236
MANNESMAN DM50 (VAR) NEW 312 46 74
MANNESMANN DM50 2,500 393 605
MUNCHENER RUCK 50%PD DM100 REGD 200 412 437
PREUSSAG DM50 800 212 198
RWE DM50 2,000 524 595
SIEMENS DM50 1,400 531 639
THYSSEN DM50 3,500 379 547
VEBA DM 50 2,300 543 681
VOLKSWAGEN DM50 900 213 225
Hong Kong:
BANK OF EAST ASIA $HK2.50 45,000 209 309
CHEUNG KONG (HLDGS) $HK0.50 55,000 237 336
68
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
International Stock Fund:
CHINA LIGHT & POWER $HK5 316,000 $1,696 $2,310
DAIRY FARM INTL ORD $US0.05 349,000 610 696
HANG SENG BANK $HK5 196,000 1,484 1,915
HARBOUR CENTRE DEV $HK0.50 421,000 551 621
HONG KONG & CHINA GAS $HK0.25 100,000 232 290
HONG KONG ELECTRIC HOLDINGS $HK1 313,000 1,052 1,306
HONG KONG LAND HDG $US0.10 (HK) 389,000 1,001 1,379
HONG KONG TELECOMM $HK0.50 662,600 1,131 1,398
HONG KONG&SHANGHAI HOTELS $HK0.5 338,000 438 652
HUTCHISON WHAMPOA $HK0.25 358,000 963 1,784
HYSAN DEVELOPMENT CO $HK5 85,000 224 338
JARDINE MATHESON $US0.25 (HK RG) 24,800 227 258
NEW WORLD DEVELOPMENT CO $HK1 75,000 232 398
SHUN TAK HOLDINGS $HK0.25 628,000 748 821
SUN HUNG KAI PROPS $HK0.50 266,000 1,336 2,444
SWIRE PACIFIC 'A' $HK0.60 181,000 1,201 1,628
TELEVISION BROADCASTS $HK0.05 163,000 553 675
Ireland:
INDEPENDENT NEWS ORD #I0.25 35,000 197 219
KERRY GROUP 'A'ORD I#0.10 10,000 41 37
SMURFIT (JEFFERSON) ORD #IR0.25 30,000 103 129
Italy:
ASSIC GENERALI LIT2000 15,000 385 344
BCA COMM ITALIANA LIT1000 150,000 509 455
BCO SAN PAULO LIT10000 32,000 199 199
BENETTON GROUP LIT500 17,000 256 265
CREDITO ITALIANO LIT500 120,000 171 162
EDISON LIT1000 100,000 349 432
FIAT LIT1000 120,000 527 306
MEDIOBANCA LIT1000 28,000 234 237
RAS LIT1000 11,000 199 179
SIP DI RISP (NCV) LIT1000 150,000 273 274
SIP LIT1000 420,000 707 882
Japan:
AJINOMOTO Y50 15,000 197 156
ASAHI BANK Y50 49,000 533 483
ASAHI BREWERIES Y50 17,000 202 180
ASAHI CHEMICAL INDUSTRIES Y50 26,000 148 140
ASAHI GLASS Y50 25,000 256 237
ASAHI OPTICAL Y50 56,000 254 221
ASHIKAGA BANK Y50 18,000 121 121
BANK OF TOKYO Y50 39,000 570 514
BRIDGESTONE Y50 40,000 506 459
CANON Y50 15,000 203 207
CHIBA BANK Y50 16,000 138 129
69
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
International Stock Fund:
COSMO OIL Y50 16,000 $ 131 $ 115
DAI NIPPON PRINTING Y50 15,000 224 214
DAI-ICHI KANGYO BANK Y50 69,000 1,291 1,094
DAIEI Y50 11,000 143 142
DAIWA HOUSE INDUSTRY Y50 22,000 361 296
DAIWA SECURITIES Y50 23,000 264 258
DENKI KAGAKU KOGYO Y50 150,000 571 355
EISAI Y50 9,000 151 144
FANUC Y50 4,000 136 132
FUJI BANK Y50 63,000 1,256 1,118
FUJI PHOTO FILM Y50 24,000 605 531
FUJITSU Y50 27,000 207 204
GUNMA BANK Y50 16,000 160 162
HANKYU Y50 27,000 144 145
HASEKO Y50 30,000 243 183
HITACHI Y50 85,000 666 626
HOKURIKU BANK Y50 22,000 141 148
HONDA MOTOR Y50 21,000 294 286
INDUSTRIAL BANK OF JAPAN Y50 64,000 1,747 1,623
ITO YOKADO Y50 13,000 588 594
ITOCHU Y50 29,000 151 140
JAPAN AIRLINES Y50 54,000 333 290
JAPAN ENERGY Y50 42,000 199 152
JOYO BANK Y50 29,000 277 218
JUSCO Y50 10,000 194 186
KAJIMA Y50 31,000 247 230
KANSAI ELECTRIC POWER Y500 25,000 700 627
KANSAI PAINT Y50 64,000 330 247
KAO Y50 17,000 198 178
KAWASAKI STEEL Y50 115,000 401 323
KINDEN Y50 12,000 262 186
KINKI NIPPON RAILWAY Y50 35,000 281 267
KIRIN BREWERY Y50 31,000 359 314
KOBE STEEL Y50 120,000 370 272
KOMATSU Y50 20,000 144 134
KUBOTA Y50 31,000 169 162
KYOCERA Y50 6,000 361 317
MARUBENI Y50 90,000 451 357
MARUI Y50 11,000 154 141
MATSUSHITA ELECTRIC IND Y50 47,000 610 627
MITSUBISHI ELECTRIC Y50 66,000 335 319
MITSUBISHI ESTATE Y50 27,000 243 223
MITSUBISHI HEAVY INDS Y50 160,000 1,033 882
MITSUBISHI KASEI Y50 46,000 187 182
MITSUBISHI PETROCHEMICAL Y50 71,000 493 366
MITSUBISHI TRUST & BANKING Y50 30,000 368 323
MITSUBISHI Y50 35,000 346 336
MITSUI FUDOSAN Y50 16,000 195 162
70
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
International Stock Fund:
MITSUI MARINE & FIRE Y50 23,000 $ 168 $ 161
MITSUI OSK LINES Y50 32,000 124 99
MITSUI TRUST & BANKING Y50 37,000 359 288
MITSUI Y50 72,000 541 447
MOCHIDA PHARMACEUTICAL Y50 14,000 373 263
NEC Y50 40,000 350 306
NEW OJI PAPER Y50 22,000 185 174
NIPPON DENSO Y50 18,000 276 265
NIPPON EXPRESS Y50 50,000 546 430
NIPPON FIRE & MARINE Y50 27,000 200 174
NIPPON OIL Y50 27,000 192 158
NIPPON PAPER INDS Y50 31,000 147 139
NIPPON STEEL Y50 200,000 729 550
NIPPON YUSEN Y50 24,000 137 115
NISSAN MOTOR Y50 43,000 287 291
NISSIN FOOD PRODUCTS Y50 6,000 171 154
NKK Y50 77,000 170 165
NOMURA SECURITIES Y50 59,000 1,099 946
OBAYASHI Y50 22,000 125 115
ODAKYU ELECTRIC RAILWAY Y50 23,000 152 152
OSAKA GAS Y50 78,000 366 332
PIONEER ELECTRONIC Y50 6,000 153 151
SAKURA BANK Y50 69,000 1,005 896
SANKYO Y50 45,000 1,036 891
SANYO ELECTRIC Y50 44,000 173 168
SECOM Y50 2,000 125 121
SEKISUI CHEMICAL Y50 16,000 148 143
SEKISUI HOUSE Y50 22,000 306 254
SEVEN-ELEVEN JAPAN NPV 14,000 959 1,040
SHARP Y50 18,000 248 245
SHIMIZU Y50 25,000 207 174
SHINETSU CHEMICAL Y50 10,000 156 148
SHISEIDO Y50 13,000 147 143
SHIZUOKA BANK Y50 16,000 190 188
SHOWA DENKO Y50 170,000 575 404
SONY Y50 10,000 443 494
SUMITOMO BANK Y50 84,000 1,634 1,468
SUMITOMO CHEMICAL Y50 47,000 180 179
SUMITOMO ELECTRIC Y50 12,000 143 140
SUMITOMO MAR & FIRE Y50 19,000 160 150
SUMITOMO METAL Y50 87,000 288 206
SUMITOMO Y50 18,000 144 140
TAISEI Y50 35,000 225 199
TAISHO PHARMACEUTICAL Y50 7,000 138 135
TAKEDA CHEMICAL INDS Y50 17,000 184 168
TOBU RAILWAY Y50 25,000 146 141
TOHOKU ELECTRIC POWER Y500 7,000 194 185
71
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
International Stock Fund:
TOKAI BANK Y50 41,000 $ 469 $ 411
TOKIO MARINE & FIRE Y50 100,000 1,248 1,093
TOKYO ELECTRIC POWER Y500 40,000 1,383 1,104
TOKYO GAS Y50 82,000 391 364
TOKYU CORP Y50 23,000 143 140
TOPPAN PRINTING Y50 15,000 168 163
TORAY INDS Y50 23,000 128 118
TOSTEM Y50 15,000 540 497
TOTO Y50 10,000 176 164
TOYO SEIKAN KAISHA Y50 6,000 154 151
TOYOTA MOTOR Y50 106,000 1,660 1,691
UNITIKA Y50 150,000 565 382
YAMAICHI SECURITIES Y50 27,000 195 144
YAMANOUCHI PHARMACEUTICAL Y50 9,000 178 162
YAMAZAKI BAKING Y50 7,000 141 135
YASUDA TRUST & BANKING Y50 24,000 162 157
YOKOHAMA (BANK OF) Y50 23,000 203 202
Malaysia:
BERJAYA GROUP $M1 (NL) 840,000 628 1,135
MAGNUM CORP $M0.50 (NL) 50,000 127 148
MALAYAN BANKING $M1 (LR) 30,000 134 212
PERLIS PLANTATIONS $M1 (NL) 200,000 522 787
PERUSAHAAN OTOMOBIL $M1 (NL) 27,000 129 121
RESORTS WORLD $M0.50 (NL) 28,000 155 180
SIME DARBY $M0.50 (NL) 450,000 858 1,261
TECHNOLOGY RESOURCES INDS $M1(NL 37,000 159 194
TELEKOM MALAYSIA $M1 (NL) 100,000 788 820
UTD ENGINEER (M) $M0.50 (NL) 32,000 150 170
Netherlands:
ABN AMRO HOLDING NFL5 40,600 1,294 1,495
ELSEVIER NFL1 2,500 205 235
HEINEKEN NFL25 6,000 596 665
KON PAKHOED CVA(NON EXCH) NFL5 16,000 386 439
NEDLLOYD GROEP NFL10 14,000 356 425
PHILIPS ELECTRONIC NFL10 35,000 604 721
ROYAL DUTCH PETROLEUM NFL5 BR 9,000 836 946
UNILEVER CVA NFL4 9,000 968 1,043
WOLTERS KLUWER CVA NFL1 3,500 206 221
New Zealand:
CARTER HOLT HARVEY ORD $NZ0.50 50,000 100 101
FLETCHER CHALL FORREST DIVISION 42,500 0 71
FLETCHER CHALLENGE ORD $NZ0.50 170,000 294 318
TELECOM CORP OF NEW ZEALAND $NZ1 90,000 165 225
72
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
International Stock Fund:
Norway:
HAFSLUND NYCOMED A NKR5 3,800 $ 73 $ 61
HAFSLUND NYCOMED B NKR5 4,000 71 67
NORSK HYDRO NKR20 11,400 308 324
ORKLA A FREE NKR25 2,200 82 86
Singapore:
CHUAN HUP HLDGS $S1 (NL) 611,000 620 828
CITY DEVELOPMENTS $S0.50 (NL) 250,000 656 1,220
FIRST CAPITAL CORP $S1 (NL) 167,000 628 618
FRASER & NEAVE ORD $S1 (NL) 14,000 139 160
HAW PAR BROTHERS $S1 (NL) 296,000 634 717
KEPPEL CORP ORD $S1 (NL) 110,000 551 786
OVERSEAS CHINESE BANK $S1 (FR) 16,000 142 173
PRIMA $S1 (NL) 151,000 620 657
SINGAPORE INTL AIR $S1 (FR) 161,000 1,100 1,351
Spain:
ARGENTARIA CORP BANCARIA PTA500 3,000 137 127
AUTOPISTA CESA PTA500 31,460 322 343
BANCO BILBAO VIZCAYA PTA600 50,000 1,215 1,107
BCO CENTRAL HISPANO PTA500 REGD 4,700 137 113
BCO ESPANOL DE CREDITO PTA700 7,000 145 98
BCO SANTANDER PTA750 REGD 2,500 133 116
EMPRESA NAC DE ELECTRIC PTA800 5,000 176 238
REPSOL PTA500 20,000 510 623
TELEFONICA DE ESPANA ORD PTA500 50,000 574 652
Sweden:
ASTRA A SKR2.5 27,000 560 615
ASTRA B SKR2.5 6,000 131 134
ERICSSON (LM) TEL B SKR10 13,000 581 532
SKAND ENSKILDA BANK A SKR10 25,000 187 169
SKF B SKR12.5 21,000 313 340
STORA KOPPARBERGS A SKR25 3,000 134 142
SVENSKA HANDELSBK A SKR10 12,000 168 163
VOLVO B SKR25 6,000 329 388
Switzerland:
BBC BROWN BOVERI SFR100 BR 1,000 546 731
CIBA-GEIGY SFR20 REGD 2,000 858 1,212
CS HOLDINGS SFR20 REGD 2,500 227 247
NESTLE SFR10 REGD 1,424 1,074 1,230
ROCHE HLDG GENUSSCHEINE NPV 400 1,299 1,700
ROCHE HOLDING SFR100 50 313 387
SANDOZ PTG SFR100 100 244 278
SCHW BANKGESELLSCH SFR100 BR 1,600 1,163 1,459
SCHW BANKGESELLSCH SFR20 REGD 2,000 369 438
73
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
International Stock Fund:
SCHWEIZ BANKVEREIN SFR50 REGD 2,500 $ 382 $ 391
SCHWEIZ RUCKVER A WTS 14/10/94 500 0 4
SCHWEIZ RUCKVERS B WTS 30/6/95 500 0 3
SCHWEIZ RUCKVERSICH SFR20 REGD 550 276 272
ZURICH VERSICHERUNG SFR50 BR 200 184 204
United Kingdom:
ABBEY NATIONAL ORD 10P 80,000 485 605
ANGLIAN WATER ORD #1 50,000 402 438
ARGYLL GP ORD 25P 47,000 201 192
ARJO WIGGINS APPLETON ORD 25P 51,000 177 180
ASSD BRITISH FOODS ORD 5P 27,000 195 225
BARCLAYS ORD #1 59,000 520 555
BASS ORD 25P 31,000 263 246
BAT INDUSTRIES ORD 25P 134,000 984 1,097
BICC ORD 50P 40,000 236 238
BLUE CIRCLE INDUSTRIES ORD 50P 63,000 280 314
BOC GP ORD 25P 20,000 192 195
BOOTS ORD 25P 41,000 342 363
BOWATER ORD 50P 100,000 743 671
BOWTHORPE ORD 10P 80,000 448 419
BOWTHORPE ORD 10P NL/PD 10,000 0 5
BPB INDUSTRIES ORD 50P 65,000 259 339
BRITISH AEROSPACE ORD 10P 33,000 223 201
BRITISH AIRWAYS ORD 25P 214,500 968 1,425
BRITISH GAS ORD 25P 203,000 985 1,026
BRITISH PETROLEUM ORD 25P 261,000 1,270 1,390
BRITISH STEEL ORD 50P 102,000 173 190
BRITISH TELECOM ORD 25P 352,000 2,365 2,461
BTR ORD 25P 134,000 716 739
CABLE & WIRELESS ORD 25P 40,000 281 309
CADBURY SCHWEPPES ORD 25P 39,000 292 294
CARADON ORD 25P 55,000 278 337
CARLTON COMMUNICATIONS ORD 5P 23,000 264 323
COATS VIYELLA ORD 20P 67,000 280 255
COMMERCIAL UNION ORD 25P 26,000 252 249
COURTAULDS ORD 25P 26,000 183 188
EASTERN ELECTRICITY ORD 50P 17,000 175 170
ENGLISH CHINA CLAYS ORD 25P 32,000 204 218
FKI ORD 10P 90,000 197 258
FORTE ORD 25P 111,888 412 432
GENERAL ACCIDENT ORD 25P 25,000 266 265
GENERAL ELECTRIC ORD 5P 132,238 633 668
GLAXO HDG ORD 25P 170,000 1,661 1,823
GRAND METROPOLITAN ORD 25P 71,000 482 499
GREAT UNIVERSAL STORES ORD 25P 42,000 380 403
GUARDIAN ROYAL EXCHANGE ORD 5P 58,000 188 198
GUINNESS ORD 25P 98,000 711 692
74
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
International Stock Fund:
HANSON ORD 25P 217,000 $ 815 $ 862
HSBC HLDGS ORD $HK10 40,411 427 592
ICI ORD #1 (POST DEMERGER) 45,000 492 532
KINGFISHER ORD 25P 27,000 290 309
LADBROKE GROUP ORD 10P 150,000 477 360
LAND SECURITIES ORD #1 24,000 286 281
LASMO ORD 25P 107,000 237 184
LEGAL & GENERAL GROUP ORD 25P 36,000 290 268
LLOYDS BANK ORD 131,097 1,101 1,278
LONRHO ORD 25P 86,000 165 164
MARKS & SPENCER ORD 25P 230,000 1,242 1,543
MEPC ORD 25P 25,000 208 200
NATIONAL POWER ORD 50P 60,000 333 430
NORTH WEST WATER ORD #1 40,000 319 347
OCEAN GROUP ORD 25P 80,000 397 393
P & O DFD STK #1 31,911 300 305
PEARSON ORD 25P 23,000 211 207
PRUDENTIAL CORP ORD 5P 182,446 901 974
RANK ORGANISATION ORD 25P 35,000 413 510
REDLAND ORD 25P 21,000 186 182
REED INTERNATIONAL ORD 25P 24,000 276 318
REUTERS HOLDINGS ORD 10P 30,000 608 793
RMC GROUP ORD 25P 22,000 274 303
ROLLS ROYCE ORD 20P 75,000 193 180
ROYAL BANK SCOTLAND GP ORD 25P 53,000 286 358
ROYAL INSURANCE HLDGS ORD 25P 60,000 281 302
RTZ CORP ORD 10P (REGD) 80,000 817 960
SAINSBURY (J) ORD 25P 51,000 344 335
SCOTTISH NEWCASTLE ORD 20P 20,000 164 158
SCOTTISH POWER ORD 50P 60,000 324 405
SEARS ORD 25P 98,000 188 185
SMITHKLINE BCH/BEC UNITS 43,000 232 232
SMITHKLINE BEECHAM A ORD 12.5P 60,000 417 359
SOUTHERN ELECTRICITY ORD 50P 18,000 190 189
TARMAC ORD 50P 120,000 258 306
TATE & LYLE ORD 25P 50,000 302 296
TESCO ORD 5P 94,000 314 296
THAMES WATER ORD #1 40,000 327 341
THORN EMI ORD 25P 30,000 456 439
TI GROUP ORD 25P 31,000 189 184
UNILEVER ORD 5P 28,000 489 498
UNITED BISCUITS ORD 25P 32,000 167 171
VODAFONE GROUP ORD 5P 50,000 410 439
75
<PAGE>
<CAPTION>
Total Fair
Shares/Units or Cost Value
Common Stock: Maturity Value (In Thousands) (In Thousands)
______ ______ ________ _____ ___ __________ ___ __________
<S> <C> <C> <C>
International Stock Fund:
WARBURG (SG) GRP ORD 25P 22,000 291 303
WILLIAMS (HDG) ORD 25P 54,000 269 299
WOLSELEY ORD 25P 40,000 399 500
ZENECA ORD 25P 52,000 595 647
________ ________
$158,704 $171,879
IBM Stock Fund:
INTERNATIONAL BUSINESS MACHINES CORP 2,721,289 $180,692 $153,753
________ ________
Total Common Stocks: $1,101,237 $1,206,118
</TABLE>
76
<PAGE>
<TABLE><CAPTION>
SCHEDULE II
INTERNATIONAL BUSINESS MACHINES CORPORATION
TAX DEFERRED SAVINGS PLAN
TRANSACTIONS INVOLVING AN AMOUNT IN EXCESS
OF 5 PERCENT OF THE CURRENT VALUE OF PLAN ASSETS
DECEMBER 31, 1993
(Dollars in Thousands)
Acquisitions Disposals
--------------------- ----------------------------------
Realized
Volume Cost Volume Proceeds Gain
------ ---------- ------- ---------- --------
<S> <C> <C> <C> <C> <C>
Bankers Trust Discretionary
Pooled Fund
- Acquisition Transactions 320 $ 407,790
- Disposal Transactions 276 $ 438,511 -
Bankers Trust Direct
Pooled Fund
- Acquisition Transactions 538 1,411,835
- Disposal Transactions 682 1,385,792 -
Bankers Trust Equity
Index Fund
- Acquisition Transactions 35 351,807
- Disposal Transactions 88 208,255 $74,608
</TABLE>
77
|
|